Fmr LLC Boosts Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

FMR LLC grew its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 24.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,363,922 shares of the biotechnology company's stock after purchasing an additional 269,074 shares during the period. FMR LLC owned about 1.30% of Corcept Therapeutics worth $63,122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hancock Whitney Corp raised its holdings in shares of Corcept Therapeutics by 1.2% in the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company's stock valued at $1,062,000 after purchasing an additional 270 shares during the last quarter. KBC Group NV raised its holdings in shares of Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company's stock valued at $131,000 after purchasing an additional 496 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Corcept Therapeutics by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company's stock valued at $174,000 after purchasing an additional 510 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Corcept Therapeutics in the third quarter valued at about $25,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Corcept Therapeutics by 0.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company's stock valued at $4,138,000 after purchasing an additional 541 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CORT shares. Piper Sandler raised their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. Truist Financial raised their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock 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 report on Monday, November 25th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Sandler O'Neill reiterated a "buy" rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $65.25.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the sale, the insider now directly owns 22,772 shares in the company, valued at $1,053,888.16. The trade was a 32.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Guyer sold 6,606 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $48.97, for a total transaction of $323,495.82. Following the transaction, the insider now directly owns 5,796 shares in the company, valued at $283,830.12. This trade represents a 53.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,611 shares of company stock worth $1,210,548 over the last three months. 20.50% of the stock is owned by insiders.

Corcept Therapeutics Price Performance

Shares of CORT stock traded up $1.36 during trading hours on Friday, reaching $60.78. The stock had a trading volume of 538,426 shares, compared to its average volume of 852,772. The stock's fifty day simple moving average is $51.85 and its 200 day simple moving average is $40.12. 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 12 month low of $20.84 and a 12 month high of $62.22. The firm has a market capitalization of $6.37 billion, a PE ratio of 48.24 and a beta of 0.51.

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 (EPS) 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 during the quarter, compared to analyst estimates of $171.97 million. During the same period in the previous year, the business posted $0.28 earnings per share. Corcept Therapeutics's revenue for the quarter was up 47.7% on a year-over-year basis. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

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.