Geode Capital Management LLC raised its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,378,758 shares of the biotechnology company's stock after acquiring an additional 99,470 shares during the period. Geode Capital Management LLC owned approximately 2.27% of Corcept Therapeutics worth $110,108,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hancock Whitney Corp raised its stake in Corcept Therapeutics by 1.2% during the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company's stock valued at $1,062,000 after purchasing an additional 270 shares during the last quarter. KBC Group NV increased its holdings in shares of Corcept Therapeutics by 21.3% during 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 during the period. Nisa Investment Advisors LLC raised its position in shares of Corcept Therapeutics by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company's stock valued at $174,000 after buying an additional 510 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics in the third quarter valued at about $25,000. Finally, Allspring Global Investments Holdings LLC grew its position in Corcept Therapeutics by 0.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company's stock worth $4,138,000 after buying an additional 541 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.
In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. The trade was a 32.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Guyer sold 3,394 shares of the stock in a transaction on Monday, November 4th. The stock was 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 $283,830.12. The trade was a 36.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,811 shares of company stock valued at $1,341,360 in the last three months. 20.50% of the stock is owned by corporate insiders.
A number of analysts have commented on the company. Piper Sandler raised their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com lowered shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Monday, November 25th. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, Truist Financial lifted their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of "Buy" and an average target price of $65.25.
Get Our Latest Stock Analysis on Corcept Therapeutics
Corcept Therapeutics stock opened at $52.42 on Thursday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $62.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock has a fifty day moving average price of $53.46 and a two-hundred day moving average price of $41.64. The firm has a market capitalization of $5.49 billion, a P/E ratio of 41.60 and a beta of 0.51.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm's quarterly revenue was up 47.7% on a year-over-year basis. During the same period last year, the firm posted $0.28 EPS. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.
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.
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