abrdn plc Purchases 142,310 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

abrdn plc increased its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 27.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 666,952 shares of the biotechnology company's stock after buying an additional 142,310 shares during the period. abrdn plc owned 0.64% of Corcept Therapeutics worth $30,867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CORT. Smith Group Asset Management LLC increased its stake in shares of Corcept Therapeutics by 25.3% in the 3rd quarter. Smith Group Asset Management LLC now owns 15,256 shares of the biotechnology company's stock valued at $706,000 after acquiring an additional 3,081 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Corcept Therapeutics by 83.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 9,851 shares of the biotechnology company's stock worth $456,000 after acquiring an additional 4,483 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $238,000. Hennion & Walsh Asset Management Inc. boosted its position in Corcept Therapeutics by 16.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 69,327 shares of the biotechnology company's stock worth $3,208,000 after acquiring an additional 9,838 shares during the last quarter. Finally, Retirement Guys Formula LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $235,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CORT shares. Canaccord Genuity Group reissued a "buy" rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Sandler O'Neill reissued a "buy" rating on shares of Corcept Therapeutics in a report on Friday, October 18th. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday. Truist Financial increased their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a report on Monday, September 30th. Finally, 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $65.25.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded up $2.08 during mid-day trading on Thursday, hitting $48.97. 2,709,627 shares of the company's stock traded hands, compared to its average volume of 1,188,019. The firm has a 50 day simple moving average of $41.85 and a two-hundred day simple moving average of $34.29. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $50.07. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 44.55 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The company had revenue of $182.55 million for the quarter, compared to analysts' expectations of $171.97 million. During the same quarter last year, the business earned $0.28 earnings per share. Corcept Therapeutics's revenue was up 47.7% on a year-over-year basis. On average, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the transaction, the insider now owns 23,190 shares of the company's stock, valued at approximately $828,114.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Corcept Therapeutics 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 owns 6,039 shares of the company's stock, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Charles Robb sold 3,101 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the transaction, the insider now directly owns 23,190 shares of the company's stock, valued at approximately $828,114.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,101 shares of company stock worth $972,817. Company insiders own 20.50% of the company's stock.

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.