Charles Schwab Investment Management Inc. Boosts Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Charles Schwab Investment Management Inc. raised its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 5.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,026,487 shares of the biotechnology company’s stock after acquiring an additional 53,191 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Corcept Therapeutics were worth $47,506,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in shares of Corcept Therapeutics in the 3rd quarter valued at about $25,000. Park Place Capital Corp acquired a new stake in Corcept Therapeutics in the second quarter valued at approximately $32,000. Atwood & Palmer Inc. purchased a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $35,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Corcept Therapeutics during the 3rd quarter worth approximately $36,000. Finally, Blue Trust Inc. lifted its position in shares of Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 1,962 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Trading Down 1.6 %

Shares of NASDAQ CORT opened at $57.68 on Monday. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $61.66. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 45.78 and a beta of 0.45. 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 stock’s 50 day simple moving average is $50.19 and its 200 day simple moving average is $39.16.

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

Insiders Place Their Bets

In related news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction 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 sale, the insider now owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. This trade represents a 62.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Charles Robb sold 11,000 shares of the business’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 sale, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. The trade was a 32.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,611 shares of company stock worth $1,563,548 over the last ninety days. 20.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CORT shares. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Piper Sandler increased their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, Truist Financial increased their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $65.25.

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.