Victory Capital Management Inc. Has $1.94 Million Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Victory Capital Management Inc. raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 49.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,823 shares of the biotechnology company's stock after buying an additional 13,787 shares during the quarter. Victory Capital Management Inc.'s holdings in Corcept Therapeutics were worth $1,936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Jacobs Levy Equity Management Inc. acquired a new position in Corcept Therapeutics in the first quarter worth $18,426,000. M&G PLC acquired a new position in Corcept Therapeutics in the third quarter valued at about $11,173,000. Janus Henderson Group PLC lifted its stake in Corcept Therapeutics by 482.6% in the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company's stock valued at $6,677,000 after buying an additional 219,551 shares during the period. abrdn plc lifted its stake in Corcept Therapeutics by 27.1% in the third quarter. abrdn plc now owns 666,952 shares of the biotechnology company's stock valued at $30,867,000 after buying an additional 142,310 shares during the period. Finally, Mutual of America Capital Management LLC lifted its stake in Corcept Therapeutics by 94.9% in the second quarter. Mutual of America Capital Management LLC now owns 263,296 shares of the biotechnology company's stock valued at $8,554,000 after buying an additional 128,194 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now owns 6,039 shares of the company's stock, valued at approximately $213,176.70. This represents a 62.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's 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. Over the last ninety days, insiders sold 33,200 shares of company stock worth $1,483,516. Corporate insiders own 20.50% of the company's stock.

Analyst Ratings Changes

CORT has been the topic of several analyst reports. Truist Financial increased their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Piper Sandler increased their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Canaccord Genuity Group restated a "buy" rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Finally, StockNews.com upgraded Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 31st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $65.25.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT traded up $1.53 during trading on Monday, reaching $59.07. 454,210 shares of the stock were exchanged, compared to its average volume of 1,174,630. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $61.66. The stock has a 50-day moving average price of $48.41 and a 200-day moving average price of $38.07. The firm has a market cap of $6.19 billion, a PE ratio of 45.67 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating 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 business had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same period in the previous year, the business earned $0.28 earnings per share. The company's revenue was up 47.7% on a year-over-year basis. Research analysts expect that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal 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.