Cetera Investment Advisers Boosts Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cetera Investment Advisers lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,292 shares of the biotechnology company’s stock after buying an additional 2,244 shares during the period. Cetera Investment Advisers’ holdings in Corcept Therapeutics were worth $1,244,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Creative Planning increased its position in Corcept Therapeutics by 18.2% during the second quarter. Creative Planning now owns 11,626 shares of the biotechnology company’s stock worth $378,000 after purchasing an additional 1,794 shares during the last quarter. Algert Global LLC bought a new position in Corcept Therapeutics in the 2nd quarter worth approximately $412,000. The Manufacturers Life Insurance Company boosted its stake in Corcept Therapeutics by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,780 shares of the biotechnology company’s stock valued at $1,585,000 after purchasing an additional 932 shares in the last quarter. Bank of Montreal Can boosted its holdings in Corcept Therapeutics by 5.0% during the second quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company’s stock worth $395,000 after buying an additional 580 shares in the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in shares of Corcept Therapeutics in the second quarter worth approximately $217,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Activity at Corcept Therapeutics

In other news, insider William Guyer sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at $233,528.13. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider William Guyer sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the transaction, the insider now owns 6,039 shares in the company, valued at approximately $233,528.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,251 shares of company stock valued at $1,365,292. 20.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. HC Wainwright increased their price target on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Piper Sandler increased their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Truist Financial lifted 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. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $56.50.

Corcept Therapeutics Price Performance

CORT stock opened at $47.27 on Thursday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $47.71. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 44.59 and a beta of 0.46. The company has a 50 day simple moving average of $38.82 and a 200 day simple moving average of $32.56.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business’s revenue was up 39.1% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 EPS for the current fiscal year.

Corcept Therapeutics Company 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.