Algert Global LLC Increases Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Algert Global LLC grew its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 216.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,115 shares of the biotechnology company’s stock after buying an additional 27,430 shares during the quarter. Algert Global LLC’s holdings in Corcept Therapeutics were worth $1,857,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CORT. M&G PLC purchased a new position in Corcept Therapeutics during the 3rd quarter worth $11,173,000. Janus Henderson Group PLC grew its stake in shares of Corcept Therapeutics by 482.6% during the 1st quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock worth $6,677,000 after purchasing an additional 219,551 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Corcept Therapeutics by 20.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock worth $39,781,000 after purchasing an additional 143,507 shares during the period. abrdn plc grew its stake in shares of Corcept Therapeutics by 27.1% during the 3rd quarter. abrdn plc now owns 666,952 shares of the biotechnology company’s stock worth $30,867,000 after purchasing an additional 142,310 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in shares of Corcept Therapeutics by 94.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 263,296 shares of the biotechnology company’s stock worth $8,554,000 after purchasing an additional 128,194 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.72, for a total transaction of $80,031.92. Following the transaction, the insider now owns 8,494 shares in the company, valued at approximately $481,779.68. The trade was a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,611 shares of company stock worth $1,563,548 in the last three months. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $58.60 on Thursday. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $61.66. The stock has a market capitalization of $6.14 billion, a P/E ratio of 46.51 and a beta of 0.45. The firm’s 50-day moving average is $49.20 and its two-hundred day moving average is $38.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CORT shares. Truist Financial upped their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 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 research note on Wednesday, September 18th. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $65.25.

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.