GAMMA Investing LLC Purchases 506 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

GAMMA Investing LLC lifted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 20.3% during the 4th quarter, Holdings Channel reports. The fund owned 2,996 shares of the biotechnology company’s stock after acquiring an additional 506 shares during the quarter. GAMMA Investing LLC’s holdings in Corcept Therapeutics were worth $151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CORT. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics in the 3rd quarter valued at about $25,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Corcept Therapeutics during the third quarter valued at approximately $36,000. KBC Group NV increased its holdings in shares of Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 496 shares in the last quarter. Quest Partners LLC raised its position in Corcept Therapeutics by 23.2% in the 2nd quarter. Quest Partners LLC now owns 5,266 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 992 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Corcept Therapeutics during the 2nd quarter worth $205,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $51.69 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 market capitalization of $5.42 billion, a P/E ratio of 41.02 and a beta of 0.56. The business has a 50-day moving average of $54.79 and a 200-day moving average of $43.83. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The firm had revenue of $182.55 million during 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 business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

CORT has been the subject of several research reports. Piper Sandler lifted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. 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. Truist Financial lifted 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. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $65.25.

Insiders Place Their Bets

In other news, 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 value of $131,736.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the transaction, the insider now owns 8,494 shares of the company’s stock, valued at approximately $481,779.68. The trade was a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,811 shares of company stock worth $1,840,080 over the last ninety days. 20.50% of the stock is currently owned by corporate insiders.

About Corcept Therapeutics

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.