Empowered Funds LLC bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 38,541 shares of the biotechnology company's stock, valued at approximately $1,784,000.
A number of other hedge funds also recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics in the third quarter worth about $25,000. Park Place Capital Corp purchased a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics during the second quarter worth $35,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Corcept Therapeutics during the third quarter worth $36,000. Finally, Blue Trust Inc. raised its stake in shares of Corcept Therapeutics by 125.4% in the second 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. Hedge funds and other institutional investors own 93.61% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on CORT shares. Canaccord Genuity Group reissued a "buy" rating and set a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Sandler O'Neill reiterated a "buy" rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. StockNews.com upgraded shares of Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Truist Financial lifted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics presently has an average rating of "Buy" and an average target price of $65.25.
View Our Latest Stock Analysis on Corcept Therapeutics
Corcept Therapeutics Stock Down 1.9 %
Shares of Corcept Therapeutics stock opened at $55.00 on Thursday. The stock has a 50-day moving average price of $47.62 and a 200 day moving average price of $37.52. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $61.66. The company has a market cap of $5.76 billion, a P/E ratio of 44.52 and a beta of 0.45.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced 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. The firm had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm's revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 EPS. As a group, analysts expect that Corcept Therapeutics Incorporated will post 1.31 EPS for the current fiscal year.
Insiders Place Their Bets
In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Guyer sold 10,000 shares of the company'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 transaction, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. This trade represents a 62.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,301 shares of company stock valued at $1,594,253. 20.50% of the stock is currently owned by insiders.
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.
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