Tanaka Capital Management Inc. Purchases 11,860 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Tanaka Capital Management Inc. grew its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 11.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,136 shares of the biotechnology company's stock after purchasing an additional 11,860 shares during the quarter. Corcept Therapeutics makes up approximately 12.0% of Tanaka Capital Management Inc.'s investment portfolio, making the stock its 2nd largest position. Tanaka Capital Management Inc. owned approximately 0.11% of Corcept Therapeutics worth $5,190,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CORT. Capital Performance Advisors LLP bought a new stake in Corcept Therapeutics during the 3rd quarter valued at $25,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Corcept Therapeutics in the third quarter valued at about $36,000. Blue Trust Inc. lifted its stake in Corcept Therapeutics by 125.4% in the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company's stock worth $115,000 after acquiring an additional 1,962 shares during the period. GAMMA Investing LLC grew its holdings in Corcept Therapeutics by 85.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock worth $115,000 after acquiring an additional 1,147 shares in the last quarter. Finally, nVerses Capital LLC increased its position in Corcept Therapeutics by 62.5% during the 2nd quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company's stock valued at $127,000 after purchasing an additional 1,500 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the business's stock in a transaction 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 transaction, the insider now owns 22,772 shares of the company's stock, valued at $1,053,888.16. This represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,611 shares of company stock valued at $1,210,548. Company insiders own 20.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CORT. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a research note on Wednesday, September 18th. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Truist Financial raised their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Sandler O'Neill reiterated a "buy" rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, StockNews.com cut shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics presently has an average rating of "Buy" and a consensus target price of $65.25.

Corcept Therapeutics Stock Down 2.5 %

Shares of CORT stock traded down $1.52 during trading hours on Monday, reaching $59.26. 1,448,358 shares of the company's stock were exchanged, compared to its average volume of 1,162,099. The stock has a market cap of $6.21 billion, a PE ratio of 48.24 and a beta of 0.51. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock's fifty day moving average price is $51.85 and its two-hundred day moving average price is $40.28. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $62.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted 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 business had revenue of $182.55 million during the quarter, compared to analysts' expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business's quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the company posted $0.28 earnings per share. Research analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS 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.