Royce & Associates LP Boosts Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Royce & Associates LP increased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 363,272 shares of the biotechnology company’s stock after acquiring an additional 13,000 shares during the quarter. Royce & Associates LP’s holdings in Corcept Therapeutics were worth $16,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics during the third quarter valued at approximately $25,000. Park Place Capital Corp purchased a new position in Corcept Therapeutics during the second quarter worth $32,000. Atwood & Palmer Inc. purchased a new position in Corcept Therapeutics during the second quarter worth $35,000. Kathleen S. Wright Associates Inc. purchased a new position in Corcept Therapeutics during the third quarter worth $36,000. Finally, Blue Trust Inc. boosted its stake in Corcept Therapeutics by 125.4% during the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,962 shares during the period. Institutional investors own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In other news, insider William Guyer sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at $213,176.70. This represents a 62.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. Insiders sold a total of 36,301 shares of company stock valued at $1,594,253 in the last three months. 20.50% of the stock is currently owned by company insiders.

Corcept Therapeutics Trading Down 5.4 %

Corcept Therapeutics stock opened at $51.83 on Friday. 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’s 50 day simple moving average is $46.46 and its two-hundred day simple moving average is $36.80. The firm has a market cap of $5.43 billion, a PE ratio of 41.14 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data 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 business had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CORT has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of 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 boosted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock 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 report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $65.25.

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.