M&G Plc Buys New Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT)

M&G PLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 242,901 shares of the biotechnology company's stock, valued at approximately $11,173,000. M&G PLC owned about 0.23% of Corcept Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in Corcept Therapeutics by 199.0% during the first quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company's stock worth $5,330,000 after buying an additional 140,815 shares during the period. Oak Ridge Investments LLC acquired a new position in Corcept Therapeutics in the second quarter valued at approximately $984,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Corcept Therapeutics by 190.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company's stock valued at $1,684,000 after purchasing an additional 43,809 shares during the period. US Bancorp DE boosted its stake in shares of Corcept Therapeutics by 6,252.3% during the 1st quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company's stock worth $637,000 after acquiring an additional 24,884 shares in the last quarter. Finally, Milestone Asset Management LLC increased its position in shares of Corcept Therapeutics by 47.4% in the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company's stock valued at $1,676,000 after buying an additional 16,593 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Sandler O'Neill reaffirmed a "buy" rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Canaccord Genuity Group restated a "buy" rating and set a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Truist Financial boosted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Piper Sandler upped their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $65.25.

Corcept Therapeutics Price Performance

NASDAQ:CORT traded up $5.30 during mid-day trading on Friday, hitting $59.60. 1,727,399 shares of the company's stock traded hands, compared to its average volume of 1,191,082. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. 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 $6.24 billion, a PE ratio of 47.30 and a beta of 0.45. The firm's 50 day simple moving average is $44.32 and its 200 day simple moving average is $35.65.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm's quarterly revenue was up 47.7% on a year-over-year basis. During the same period last year, the company earned $0.28 EPS. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.25 EPS for the current year.

Insider Activity

In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the transaction, the insider now directly owns 22,772 shares of the company's stock, valued at $1,053,888.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Corcept Therapeutics news, insider William Guyer sold 3,394 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the transaction, the insider now directly owns 5,796 shares in the company, valued at $283,830.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Charles Robb sold 11,000 shares of the company's stock in a transaction 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 transaction, the insider now owns 22,772 shares of the company's stock, valued at approximately $1,053,888.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,101 shares of company stock worth $1,462,517 over the last 90 days. Company insiders own 20.50% of the company's stock.

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.