Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Holdings Lowered by Amalgamated Bank

Amalgamated Bank lessened its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,029 shares of the biotechnology company’s stock after selling 606 shares during the period. Amalgamated Bank’s holdings in Corcept Therapeutics were worth $1,251,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CORT. Park Place Capital Corp acquired a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $32,000. Atwood & Palmer Inc. bought a new stake in Corcept Therapeutics during the 2nd quarter valued at $35,000. Kathleen S. Wright Associates Inc. bought a new stake in Corcept Therapeutics during the 3rd quarter valued at $36,000. Blue Trust Inc. boosted its position in Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,962 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Corcept Therapeutics by 85.4% in 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 in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CORT. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Canaccord Genuity Group restated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, Truist Financial upped their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $65.25.

Insider Activity

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on 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 legal filing with the SEC, which is available through this hyperlink. 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 shares were sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Guyer sold 6,606 shares of Corcept Therapeutics 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 transaction, the insider now directly owns 5,796 shares in the company, valued at approximately $283,830.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,301 shares of company stock worth $1,594,253. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $56.45 on Thursday. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $61.66. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $45.70 and a two-hundred day moving average of $36.48. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 44.80 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. The business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 earnings per share. As a group, analysts expect that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current fiscal year.

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.