Nisa Investment Advisors LLC Has $456,000 Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Nisa Investment Advisors LLC lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 83.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,851 shares of the biotechnology company’s stock after acquiring an additional 4,483 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Corcept Therapeutics were worth $456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CORT. Vanguard Group Inc. boosted its stake in shares of Corcept Therapeutics by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock valued at $240,962,000 after purchasing an additional 28,250 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Corcept Therapeutics by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock valued at $86,952,000 after acquiring an additional 108,658 shares during the period. Jupiter Asset Management Ltd. raised its stake in shares of Corcept Therapeutics by 1,149.0% during the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after acquiring an additional 684,863 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Corcept Therapeutics during the first quarter worth $18,426,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Corcept Therapeutics in the first quarter worth $14,670,000. Institutional investors own 93.61% of the company’s stock.

Insider Activity

In related news, insider William Guyer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the sale, the insider now directly owns 6,039 shares of the company’s stock, valued at $213,176.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the transaction, the insider now owns 23,190 shares in the company, valued at approximately $828,114.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the transaction, the insider now owns 6,039 shares of the company’s stock, valued at $213,176.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,101 shares of company stock worth $1,462,517. Company insiders own 20.50% of the company’s stock.

Analysts Set New Price Targets

CORT has been the subject of several analyst reports. 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. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, Piper Sandler upped their price objective 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 company’s stock. Based on data from MarketBeat, Corcept Therapeutics currently has an average rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Trading Up 4.2 %

Shares of CORT stock opened at $52.14 on Wednesday. The company has a market cap of $5.46 billion, a P/E ratio of 41.38 and a beta of 0.45. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $52.35. The stock has a 50 day simple moving average of $43.05 and a two-hundred day simple moving average of $35.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Corcept Therapeutics’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. Research analysts forecast that Corcept Therapeutics Incorporated will post 1.25 earnings per share for the current year.

Corcept Therapeutics 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.