State Street Corp boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,519,263 shares of the biotechnology company's stock after purchasing an additional 19,893 shares during the quarter. State Street Corp owned approximately 3.36% of Corcept Therapeutics worth $162,871,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics during the 3rd quarter valued at approximately $25,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Corcept Therapeutics during the 3rd quarter valued at approximately $36,000. Blue Trust Inc. boosted 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 acquiring an additional 1,962 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Corcept Therapeutics by 85.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock valued at $115,000 after acquiring an additional 1,147 shares during the last quarter. Finally, nVerses Capital LLC raised its holdings in Corcept Therapeutics by 62.5% during the 2nd quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company's stock valued at $127,000 after buying an additional 1,500 shares during the period. 93.61% of the stock is currently owned by institutional investors.
Corcept Therapeutics stock opened at $55.40 on Friday. The stock's 50 day moving average price is $53.06 and its 200 day moving average price is $41.15. The company has a market cap of $5.80 billion, a PE ratio of 43.97 and a beta of 0.51. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $62.22. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. The company had revenue of $182.55 million during 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 earnings per share. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.
In other news, insider William Guyer sold 3,394 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the sale, the insider now owns 5,796 shares of the company's stock, valued at $283,830.12. This represents a 36.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total value of $130,812.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,811 shares of company stock valued at $1,341,360. Company insiders own 20.50% of the company's stock.
A number of analysts have weighed in on CORT shares. StockNews.com lowered Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 25th. Sandler O'Neill reissued a "buy" rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Truist Financial lifted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Monday, September 30th. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $65.25.
Read Our Latest Stock Report on CORT
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.
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