USA Financial Formulas Buys Shares of 1,065 Corcept Therapeutics Incorporated (NASDAQ:CORT)

USA Financial Formulas bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, HoldingsChannel reports. The firm bought 1,065 shares of the biotechnology company’s stock, valued at approximately $54,000.

Other large investors have also recently made changes to their positions in the company. M&G PLC purchased a new stake in Corcept Therapeutics during the 3rd quarter worth about $11,173,000. Empowered Funds LLC purchased a new stake in shares of Corcept Therapeutics in the third quarter worth about $1,784,000. Victory Capital Management Inc. boosted its position in shares of Corcept Therapeutics by 49.2% in the third quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after acquiring an additional 13,787 shares during the period. State Street Corp boosted its position in shares of Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after acquiring an additional 19,893 shares during the period. Finally, 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 valued at $39,781,000 after acquiring an additional 143,507 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 6,606 shares of the company’s stock in a transaction 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 sale, the insider now owns 5,796 shares of the company’s stock, valued at approximately $283,830.12. This represents a 53.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The disclosure for this sale can be found here. Insiders have sold 38,011 shares of company stock worth $1,951,268 over the last ninety days. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Up 1.2 %

CORT opened at $54.45 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $54.89 and its 200 day simple moving average is $44.60. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $62.22. The stock has a market cap of $5.70 billion, a PE ratio of 43.21 and a beta of 0.56.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.28 EPS. As a group, research analysts expect that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, Truist Financial boosted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $65.25.

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.