Victory Capital Management Inc. Purchases 13,787 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Victory Capital Management Inc. increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 49.2% during the third quarter, Holdings Channel reports. The fund owned 41,823 shares of the biotechnology company’s stock after purchasing an additional 13,787 shares during the period. Victory Capital Management Inc.’s holdings in Corcept Therapeutics were worth $1,936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CORT. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics in the third quarter worth $25,000. Kathleen S. Wright Associates Inc. bought a new stake in Corcept Therapeutics during the 3rd quarter worth about $36,000. Park Place Capital Corp bought a new stake in Corcept Therapeutics during the 2nd quarter worth about $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at about $35,000. Finally, GAMMA Investing LLC raised its stake in shares of Corcept Therapeutics by 85.4% in the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,147 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Trading Up 2.9 %

NASDAQ CORT opened at $57.54 on Monday. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $61.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock’s 50 day moving average price is $48.41 and its two-hundred day moving average price is $38.07. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 45.67 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $182.55 million for 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%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CORT. Truist Financial raised their price target on shares of 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 research report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $65.25.

Insider Transactions at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the sale, the insider now owns 22,772 shares in the company, valued at $1,053,888.16. This represents a 32.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The disclosure for this sale can be found here. Insiders sold a total of 33,200 shares of company stock worth $1,483,516 in the last three months. Insiders own 20.50% of the company’s stock.

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.