World Investment Advisors LLC purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,876 shares of the biotechnology company's stock, valued at approximately $503,000.
Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Corcept Therapeutics during the 3rd quarter worth $25,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Corcept Therapeutics during the 3rd quarter worth $36,000. GAMMA Investing LLC raised its holdings 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 worth $115,000 after buying an additional 1,147 shares in the last quarter. KBC Group NV raised its holdings in shares of Corcept Therapeutics by 21.3% during the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company's stock worth $131,000 after buying an additional 496 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company's stock worth $115,000 after acquiring an additional 1,962 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.
In other news, insider William Guyer sold 3,394 shares of the business'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 transaction, the insider now directly owns 5,796 shares of the company's stock, valued at $283,830.12. The trade was a 36.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction dated Monday, November 11th. The shares were 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. Insiders have sold 26,811 shares of company stock valued at $1,341,360 in the last ninety days. 20.50% of the stock is owned by company insiders.
NASDAQ CORT opened at $55.14 on Wednesday. The business's 50-day moving average price is $53.28 and its two-hundred day moving average price is $41.46. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $62.22. The firm has a market capitalization of $5.78 billion, a PE ratio of 43.76 and a beta of 0.51. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released 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. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the previous year, the company posted $0.28 EPS. The business's revenue was up 47.7% on a year-over-year basis. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.
A number of equities research analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com lowered Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 25th. Piper Sandler boosted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Truist Financial boosted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $65.25.
View 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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