Algert Global LLC Buys 27,430 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Algert Global LLC lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 216.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,115 shares of the biotechnology company's stock after purchasing an additional 27,430 shares during the period. Algert Global LLC's holdings in Corcept Therapeutics were worth $1,857,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CORT. M&G PLC bought a new stake in shares of Corcept Therapeutics during the third quarter worth about $11,173,000. Janus Henderson Group PLC raised its holdings in Corcept Therapeutics by 482.6% during the 1st quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company's stock valued at $6,677,000 after acquiring an additional 219,551 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Corcept Therapeutics by 20.0% during the 3rd 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 in the last quarter. abrdn plc increased its position 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 buying an additional 142,310 shares during the period. Finally, Mutual of America Capital Management LLC boosted its position in shares of 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 valued at $8,554,000 after acquiring an additional 128,194 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Trading Up 0.0 %

Shares of Corcept Therapeutics stock traded up $0.02 on Thursday, hitting $58.60. The stock had a trading volume of 477,926 shares, compared to its average volume of 1,174,475. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 46.51 and a beta of 0.45. The stock's 50-day simple moving average is $49.52 and its two-hundred day simple moving average is $38.66. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $61.66.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. During the same period last year, the business posted $0.28 earnings per share. Corcept Therapeutics's quarterly revenue was up 47.7% compared to the same quarter last year. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Insider Activity

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the sale, the insider now directly owns 6,039 shares of the company's stock, valued at approximately $213,176.70. This represents a 62.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Douglas Lyon sold 1,411 shares of Corcept Therapeutics stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.72, for a total value of $80,031.92. Following the transaction, the insider now directly owns 8,494 shares in the company, 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 have sold a total of 34,611 shares of company stock valued at $1,563,548 over the last ninety days. 20.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CORT. Truist Financial lifted their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company 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. HC Wainwright restated a "buy" rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler upped their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Finally, StockNews.com downgraded Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $65.25.

Corcept Therapeutics Company 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.