Thrivent Financial for Lutherans Reduces Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Thrivent Financial for Lutherans trimmed its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 73,030 shares of the biotechnology company’s stock after selling 3,027 shares during the period. Thrivent Financial for Lutherans’ holdings in Corcept Therapeutics were worth $3,380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics during the 3rd quarter valued at approximately $25,000. Park Place Capital Corp purchased a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $32,000. Atwood & Palmer Inc. bought a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $35,000. Kathleen S. Wright Associates Inc. purchased a new stake in Corcept Therapeutics in the third quarter worth $36,000. Finally, Blue Trust Inc. lifted its stake in Corcept Therapeutics by 125.4% in the second 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. 93.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CORT. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Piper Sandler increased their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Truist Financial raised their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics has an average rating of “Buy” and a consensus price target of $65.25.

Corcept Therapeutics Trading Up 2.6 %

NASDAQ:CORT opened at $59.03 on Tuesday. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $61.66. The company’s 50-day simple moving average is $48.41 and its 200 day simple moving average is $38.07. The firm has a market capitalization of $6.19 billion, a P/E ratio of 46.85 and a beta of 0.45. 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 issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on 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 filing with the SEC, which is accessible through this link. Also, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now directly owns 6,039 shares of the company’s stock, valued at $213,176.70. This trade represents a 62.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,200 shares of company stock valued at $1,483,516. 20.50% of the stock is currently owned by corporate insiders.

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.