Creative Planning Purchases 841 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Creative Planning raised its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,467 shares of the biotechnology company’s stock after purchasing an additional 841 shares during the period. Creative Planning’s holdings in Corcept Therapeutics were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CORT. Jacobs Levy Equity Management Inc. purchased a new position in shares of Corcept Therapeutics during the first quarter worth approximately $18,426,000. Jupiter Asset Management Ltd. lifted its stake in Corcept Therapeutics by 1,149.0% in the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock worth $18,753,000 after purchasing an additional 684,863 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Corcept Therapeutics during the first quarter valued at about $14,670,000. Janus Henderson Group PLC boosted its position in Corcept Therapeutics by 482.6% during the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock valued at $6,677,000 after buying an additional 219,551 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Corcept Therapeutics by 199.0% during the first quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock valued at $5,330,000 after buying an additional 140,815 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Truist Financial boosted their price objective 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. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler lifted their target price 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. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and a consensus target price of $65.25.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total transaction of $509,080.00. Following the transaction, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 sale, the insider now owns 22,772 shares of the company’s stock, valued at $1,053,888.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Guyer sold 10,000 shares of the 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 owns 6,039 shares in the company, valued at $213,176.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,101 shares of company stock valued at $972,817 over the last ninety days. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $50.06 on Tuesday. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $51.32. The company has a quick ratio of 5.48, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5.25 billion, a P/E ratio of 39.73 and a beta of 0.45. The stock’s 50 day moving average is $42.40 and its 200 day moving average is $34.73.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share 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 return on equity of 24.54% and a net margin of 22.35%. The company’s revenue was up 47.7% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.19 earnings per share for the current fiscal year.

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.