Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Algert Global LLC

Algert Global LLC lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 216.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,115 shares of the biotechnology company’s stock after buying an additional 27,430 shares during the quarter. Algert Global LLC’s holdings in Corcept Therapeutics were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CORT. M&G PLC acquired a new stake in shares of Corcept Therapeutics during the third quarter worth approximately $11,173,000. Janus Henderson Group PLC lifted its stake in Corcept Therapeutics by 482.6% in the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock valued at $6,677,000 after buying an additional 219,551 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Corcept Therapeutics by 20.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock valued at $39,781,000 after buying an additional 143,507 shares during the last quarter. abrdn plc raised its stake in shares of Corcept Therapeutics by 27.1% during the third quarter. abrdn plc now owns 666,952 shares of the biotechnology company’s stock valued at $30,867,000 after purchasing an additional 142,310 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its position in Corcept Therapeutics by 94.9% in the second quarter. Mutual of America Capital Management LLC now owns 263,296 shares of the biotechnology company’s stock worth $8,554,000 after acquiring an additional 128,194 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CORT. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday. Truist Financial boosted their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, Piper Sandler lifted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Trading Up 0.0 %

Shares of CORT opened at $58.60 on Thursday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $61.66. The business’s 50-day moving average price is $49.20 and its 200 day moving average price is $38.52. The stock has a market capitalization of $6.14 billion, a P/E ratio of 46.51 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. During the same quarter in the previous year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. Analysts expect that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the sale, the insider now directly owns 22,772 shares in the company, valued at $1,053,888.16. The trade was a 32.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. Insiders have sold a total of 34,611 shares of company stock valued at $1,563,548 in the last 90 days. 20.50% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.