CWA Asset Management Group LLC Acquires Shares of 20,800 Corcept Therapeutics Incorporated (NASDAQ:CORT)

CWA Asset Management Group LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,800 shares of the biotechnology company's stock, valued at approximately $963,000.

Several other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics during the 3rd quarter valued at approximately $25,000. M&G PLC purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $11,173,000. QRG Capital Management Inc. boosted its position in shares of Corcept Therapeutics by 8.0% during the third quarter. QRG Capital Management Inc. now owns 90,202 shares of the biotechnology company's stock worth $4,175,000 after buying an additional 6,691 shares during the period. US Bancorp DE increased its stake in Corcept Therapeutics by 162.2% during the 3rd quarter. US Bancorp DE now owns 19,683 shares of the biotechnology company's stock worth $911,000 after buying an additional 12,177 shares during the period. Finally, abrdn plc increased its holdings in shares of Corcept Therapeutics by 27.1% in the 3rd quarter. abrdn plc now owns 666,952 shares of the biotechnology company's stock valued at $30,867,000 after acquiring an additional 142,310 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Stock Down 1.4 %

Shares of Corcept Therapeutics stock traded down $0.84 during midday trading on Monday, reaching $58.76. 711,594 shares of the company's stock traded hands, compared to its average volume of 1,188,883. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $61.66. The company's 50 day simple moving average is $44.32 and its 200 day simple moving average is $35.83. 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 company has a market cap of $6.16 billion, a price-to-earnings ratio of 47.30 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its 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. 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 for the quarter, compared to analyst estimates of $171.97 million. During the same period in the previous year, the business earned $0.28 EPS. The firm's revenue was up 47.7% on a year-over-year basis. Equities analysts expect that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Guyer sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the sale, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Guyer sold 10,000 shares of the business'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 value of $353,000.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at $213,176.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,101 shares of company stock valued at $1,462,517. Insiders own 20.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CORT shares. Piper Sandler boosted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. StockNews.com raised shares of Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 31st. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Truist Financial lifted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a report on Monday, September 30th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of "Buy" and a consensus price target of $65.25.

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.