Blue Trust Inc. raised its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 47.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,225 shares of the biotechnology company's stock after buying an additional 5,567 shares during the period. Blue Trust Inc.'s holdings in Corcept Therapeutics were worth $797,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CORT. Capital Performance Advisors LLP acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. Kathleen S. Wright Associates Inc. acquired a new stake in Corcept Therapeutics in the third quarter valued at $36,000. USA Financial Formulas acquired a new stake in Corcept Therapeutics in the fourth quarter valued at $54,000. GAMMA Investing LLC grew its position in shares of Corcept Therapeutics by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock valued at $115,000 after acquiring an additional 1,147 shares during the period. Finally, KBC Group NV increased its stake in shares of Corcept Therapeutics by 21.3% during the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company's stock worth $131,000 after purchasing an additional 496 shares during the last quarter. 93.61% of the stock is owned by institutional investors.
Corcept Therapeutics Price Performance
Shares of NASDAQ:CORT traded down $2.98 during trading on Friday, hitting $66.92. 1,506,999 shares of the company were exchanged, compared to its average volume of 719,306. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $71.29. The company has a market capitalization of $7.01 billion, a P/E ratio of 53.11 and a beta of 0.56. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $56.02 and its 200-day moving average is $47.00.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million for the quarter, compared to analysts' expectations of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business's quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. Equities analysts forecast that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.
Insider Buying and Selling
In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William Guyer sold 3,394 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $48.97, for a total value of $166,204.18. Following the transaction, the insider now owns 5,796 shares of the company's stock, valued at $283,830.12. This trade represents a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,405 shares of company stock worth $1,627,772 in the last ninety days. Company insiders own 20.50% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on CORT shares. HC Wainwright restated a "buy" rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Sandler O'Neill reaffirmed a "buy" rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group raised their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a report on Thursday. Finally, StockNews.com downgraded 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, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $88.25.
Get Our Latest Stock Report on CORT
About Corcept Therapeutics
(
Free Report)
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.
Further Reading
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