Oppenheimer & Co. Inc. Grows Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Oppenheimer & Co. Inc. grew its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 23.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,774 shares of the biotechnology company’s stock after purchasing an additional 4,774 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Corcept Therapeutics were worth $1,147,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oak Ridge Investments LLC purchased a new stake in Corcept Therapeutics in the second quarter valued at about $984,000. M&G PLC purchased a new position in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $11,173,000. State Board of Administration of Florida Retirement System raised its position in shares of Corcept Therapeutics by 190.0% in the 1st 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 purchasing an additional 43,809 shares during the last quarter. US Bancorp DE boosted its stake in Corcept Therapeutics by 6,252.3% in the 1st quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock worth $637,000 after purchasing an additional 24,884 shares in the last quarter. Finally, Milestone Asset Management LLC grew its position in Corcept Therapeutics by 47.4% during the 2nd quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock worth $1,676,000 after purchasing an additional 16,593 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Trading Up 1.5 %

Corcept Therapeutics stock opened at $52.62 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $61.66. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 41.77 and a beta of 0.45. The stock has a 50-day moving average price of $46.46 and a 200 day moving average price of $36.99.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (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 company had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same period in the previous year, the company posted $0.28 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 47.7% on a year-over-year basis. Sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CORT shares. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Truist Financial increased their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of “Buy” and a consensus target price of $65.25.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Charles Robb sold 3,101 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the transaction, the insider now directly owns 23,190 shares of the company’s stock, valued at $828,114.90. The trade was a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,301 shares of company stock valued at $1,594,253. 20.50% of the stock is owned by company insiders.

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.