World Investment Advisors LLC Invests $503,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

World Investment Advisors LLC bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,876 shares of the biotechnology company's stock, valued at approximately $503,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics during the 3rd quarter valued at $25,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Corcept Therapeutics during the third quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock worth $115,000 after purchasing an additional 1,147 shares during the last quarter. KBC Group NV grew its position in Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company's stock worth $131,000 after purchasing an additional 496 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Corcept Therapeutics by 125.4% in the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company's stock valued at $115,000 after buying an additional 1,962 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider William Guyer sold 3,394 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the sale, the insider now owns 5,796 shares in the company, valued at approximately $283,830.12. This represents a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,811 shares of company stock valued at $1,341,360 over the last quarter. Company insiders own 20.50% of the company's stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT traded down $1.86 during trading hours on Wednesday, reaching $53.28. The stock had a trading volume of 377,119 shares, compared to its average volume of 1,150,462. The stock has a market cap of $5.58 billion, a P/E ratio of 42.29 and a beta of 0.51. The stock has a 50 day simple moving average of $53.46 and a 200 day simple moving average of $41.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $62.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm's revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, research analysts forecast 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.