M&G Plc Purchases New Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

M&G Plc acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 242,901 shares of the biotechnology company’s stock, valued at approximately $11,173,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CORT. BNP Paribas Financial Markets boosted its holdings in shares of Corcept Therapeutics by 199.0% in the 1st quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock worth $5,330,000 after purchasing an additional 140,815 shares during the period. Oak Ridge Investments LLC purchased a new position in Corcept Therapeutics during the second quarter worth $984,000. State Board of Administration of Florida Retirement System increased its position in Corcept Therapeutics by 190.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock valued at $1,684,000 after acquiring an additional 43,809 shares during the last quarter. US Bancorp DE raised its stake in shares of Corcept Therapeutics by 6,252.3% in the first quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock valued at $637,000 after acquiring an additional 24,884 shares during the period. Finally, Milestone Asset Management LLC lifted its holdings in shares of Corcept Therapeutics by 47.4% in the 2nd quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock worth $1,676,000 after acquiring an additional 16,593 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CORT has been the topic of several analyst reports. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Truist Financial increased their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Canaccord Genuity Group restated a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Piper Sandler boosted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $65.25.

Insider Activity

In related news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now owns 6,039 shares of the company’s stock, valued at $213,176.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider William Guyer sold 10,000 shares of the business’s 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 transaction, the insider now directly owns 6,039 shares in the company, valued at $213,176.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction dated 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 owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,101 shares of company stock worth $1,462,517. Corporate insiders own 20.50% of the company’s stock.

Corcept Therapeutics Trading Up 0.1 %

Shares of NASDAQ CORT opened at $54.30 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $55.24. 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 has a fifty day simple moving average of $43.83 and a two-hundred day simple moving average of $35.39. The firm has a market cap of $5.69 billion, a PE ratio of 43.10 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping 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 company had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. During the same period in the prior year, the business earned $0.28 EPS. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. Analysts expect that Corcept Therapeutics Incorporated will post 1.25 earnings per share for the current fiscal year.

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.