Charles Schwab Investment Management Inc. Has $47.51 Million Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Charles Schwab Investment Management Inc. raised its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,026,487 shares of the biotechnology company's stock after purchasing an additional 53,191 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.98% of Corcept Therapeutics worth $47,506,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $25,000. Park Place Capital Corp acquired a new position in shares of Corcept Therapeutics during the 2nd quarter valued at $32,000. Atwood & Palmer Inc. acquired a new position in shares of Corcept Therapeutics during the 2nd quarter valued at $35,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $36,000. Finally, Blue Trust Inc. lifted its holdings in shares of Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company's stock valued at $115,000 after acquiring an additional 1,962 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Insider Buying and Selling at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Douglas Lyon sold 1,411 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the sale, the insider now owns 8,494 shares in the company, valued at $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 34,611 shares of company stock valued at $1,563,548 in the last ninety days. Company insiders own 20.50% of the company's stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT traded up $1.53 during midday trading on Monday, hitting $59.21. The company's stock had a trading volume of 918,869 shares, compared to its average volume of 1,169,779. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $61.66. The firm's fifty day moving average price is $50.19 and its 200-day moving average price is $39.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a market cap of $6.20 billion, a P/E ratio of 45.78 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results 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 analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Corcept Therapeutics's revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. On average, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CORT shares. Truist Financial lifted their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a report on Monday, September 30th. StockNews.com downgraded shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 25th. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 18th. Sandler O'Neill reaffirmed a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company 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.