Intellectus Partners LLC Invests $2.54 Million in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Intellectus Partners LLC purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 54,859 shares of the biotechnology company's stock, valued at approximately $2,539,000. Intellectus Partners LLC owned about 0.05% of Corcept Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV boosted its position in Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company's stock valued at $131,000 after buying an additional 496 shares during the period. Nisa Investment Advisors LLC grew its stake in Corcept Therapeutics by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company's stock worth $174,000 after purchasing an additional 510 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Corcept Therapeutics during the 3rd quarter worth about $25,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Corcept Therapeutics by 0.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company's stock valued at $4,138,000 after buying an additional 541 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Corcept Therapeutics by 5.0% during the second quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company's stock worth $395,000 after buying an additional 580 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the transaction, the insider now directly owns 23,190 shares in the company, valued at approximately $828,114.90. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Guyer sold 3,394 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $48.97, for a total transaction of $166,204.18. Following the sale, the insider now owns 5,796 shares of the company's stock, valued at approximately $283,830.12. The trade was 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 36,301 shares of company stock worth $1,594,253 over the last ninety days. 20.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CORT has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Truist Financial boosted their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Finally, StockNews.com raised Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $65.25.

Corcept Therapeutics Stock Performance

Shares of CORT traded down $2.96 during mid-day trading on Friday, hitting $51.83. 1,413,953 shares of the company's stock were exchanged, compared to its average volume of 1,187,763. The firm has a market capitalization of $5.43 billion, a P/E ratio of 41.14 and a beta of 0.45. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $61.66. The business's 50 day moving average is $46.46 and its two-hundred day moving average is $36.80. 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 (NASDAQ:CORT - Get Free Report) last released 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. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company's revenue for the quarter was up 47.7% compared to the same quarter last year. On average, equities analysts expect that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current year.

Corcept Therapeutics 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.