Fmr LLC Has $63.12 Million Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Fmr LLC increased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 24.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,363,922 shares of the biotechnology company’s stock after acquiring an additional 269,074 shares during the quarter. Fmr LLC owned about 1.30% of Corcept Therapeutics worth $63,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in Corcept Therapeutics by 4.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 50,996 shares of the biotechnology company’s stock worth $2,360,000 after purchasing an additional 2,216 shares during the last quarter. Hancock Whitney Corp lifted its holdings in Corcept Therapeutics by 1.2% in the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 270 shares during the period. Alpha DNA Investment Management LLC bought a new stake in Corcept Therapeutics during the third quarter valued at $464,000. Algert Global LLC grew its holdings in Corcept Therapeutics by 216.2% during the 3rd quarter. Algert Global LLC now owns 40,115 shares of the biotechnology company’s stock worth $1,857,000 after acquiring an additional 27,430 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Corcept Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock worth $47,506,000 after acquiring an additional 53,191 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $60.78 on Friday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $51.85 and a two-hundred day simple moving average of $40.12. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $62.22. The firm has a market capitalization of $6.37 billion, a PE ratio of 48.24 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly 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. The business had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CORT shares. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Truist Financial raised their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $65.25.

Insider Activity at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the sale, the insider now directly owns 22,772 shares in the company, valued at approximately $1,053,888.16. This trade represents a 32.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,611 shares of company stock valued at $1,210,548 over the last 90 days. Insiders own 20.50% of the company’s stock.

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.