CWA Asset Management Group LLC Has $821,000 Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

CWA Asset Management Group LLC decreased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 21.7% in the 4th quarter, Holdings Channel reports. The firm owned 16,291 shares of the biotechnology company’s stock after selling 4,509 shares during the quarter. CWA Asset Management Group LLC’s holdings in Corcept Therapeutics were worth $821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its holdings in Corcept Therapeutics by 40.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after buying an additional 352,947 shares during the period. FMR LLC lifted its stake in shares of Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after purchasing an additional 269,074 shares during the period. M&G PLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at about $11,173,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Corcept Therapeutics by 20.0% during the third 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. Finally, abrdn plc increased its holdings in Corcept Therapeutics by 27.1% in the third 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 in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Corcept Therapeutics

In related news, insider William Guyer sold 6,606 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the transaction, the insider now directly owns 5,796 shares in the company, valued at approximately $283,830.12. The trade was a 53.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,811 shares of company stock valued at $1,840,080. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Trading Down 0.8 %

Shares of CORT stock opened at $51.25 on Wednesday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $62.22. The company has a 50-day simple moving average of $54.69 and a two-hundred day simple moving average of $43.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 40.67 and a beta of 0.56.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The company 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%. Corcept Therapeutics’s revenue was up 47.7% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. Research analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 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.