Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Acquired by Royce & Associates LP

Royce & Associates LP raised its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 363,272 shares of the biotechnology company's stock after buying an additional 13,000 shares during the period. Royce & Associates LP owned about 0.35% of Corcept Therapeutics worth $16,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CORT. Capital Performance Advisors LLP acquired a new position in shares of Corcept Therapeutics in the third quarter worth $25,000. Kathleen S. Wright Associates Inc. purchased a new stake in Corcept Therapeutics during the 3rd quarter worth about $36,000. Park Place Capital Corp acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at about $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at about $35,000. Finally, GAMMA Investing LLC boosted its stake in shares of Corcept Therapeutics by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock valued at $115,000 after buying an additional 1,147 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Down 5.4 %

Shares of NASDAQ:CORT traded down $2.96 during trading on Friday, hitting $51.83. 1,414,439 shares of the company were exchanged, compared to its average volume of 1,187,763. The firm's 50 day moving average price is $46.46 and its 200-day moving average price is $36.90. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $61.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock has a market capitalization of $5.43 billion, a P/E ratio of 41.14 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping 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 firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same period last year, the business earned $0.28 EPS. Corcept Therapeutics's revenue for the quarter was up 47.7% compared to the same quarter last year. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $828,114.90. This trade represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The disclosure for this sale can be found here. In the last three months, insiders sold 36,301 shares of company stock valued at $1,594,253. Insiders own 20.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $38.00 target price on shares of Corcept Therapeutics in a report on Tuesday, July 30th. StockNews.com raised shares of Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Sandler O'Neill reiterated a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, Truist Financial raised their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $65.25.

About Corcept Therapeutics

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.