US Bancorp DE Purchases 12,177 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

US Bancorp DE boosted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 162.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,683 shares of the biotechnology company's stock after purchasing an additional 12,177 shares during the period. US Bancorp DE's holdings in Corcept Therapeutics were worth $911,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Corcept Therapeutics by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company's stock valued at $240,962,000 after buying an additional 28,250 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Corcept Therapeutics by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company's stock valued at $86,952,000 after acquiring an additional 108,658 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Corcept Therapeutics by 1,149.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company's stock valued at $18,753,000 after purchasing an additional 684,863 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Corcept Therapeutics in the first quarter worth approximately $18,426,000. Finally, abrdn plc grew its position in shares of Corcept Therapeutics by 27.1% during the 3rd quarter. abrdn plc now owns 666,952 shares of the biotechnology company's stock valued at $30,867,000 after acquiring an additional 142,310 shares during the period. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded up $5.30 on Friday, reaching $59.60. The company's stock had a trading volume of 1,727,539 shares, compared to its average volume of 1,213,196. The company has a 50-day simple moving average of $44.32 and a 200 day simple moving average of $35.74. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $61.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company has a market cap of $6.24 billion, a P/E ratio of 47.30 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released 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 return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. During the same quarter last year, the business posted $0.28 earnings per share. The firm's revenue was up 47.7% on a year-over-year basis. As a group, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at Corcept Therapeutics

In related news, insider William Guyer sold 6,606 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $48.97, for a total transaction of $323,495.82. Following the completion of the sale, the insider now directly owns 5,796 shares of the company's stock, valued at approximately $283,830.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider William Guyer sold 6,606 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the transaction, the insider now directly owns 5,796 shares in the company, valued at approximately $283,830.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Charles Robb sold 11,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the transaction, the insider now directly owns 22,772 shares in the company, valued at $1,053,888.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,101 shares of company stock worth $1,462,517. 20.50% of the stock is currently owned by insiders.

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.