Stifel Financial Corp Acquires 20,546 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Stifel Financial Corp increased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 30.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,967 shares of the biotechnology company’s stock after acquiring an additional 20,546 shares during the quarter. Stifel Financial Corp’s holdings in Corcept Therapeutics were worth $4,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its position in shares of Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock worth $56,637,000 after purchasing an additional 352,947 shares during the period. FMR LLC raised its stake in Corcept Therapeutics by 24.6% in the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after buying an additional 269,074 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Corcept Therapeutics by 4.5% in the third quarter. The Manufacturers Life Insurance Company now owns 50,996 shares of the biotechnology company’s stock worth $2,360,000 after buying an additional 2,216 shares in the last quarter. Hancock Whitney Corp lifted its holdings in Corcept Therapeutics by 1.2% in the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock worth $1,062,000 after buying an additional 270 shares during the period. Finally, Alpha DNA Investment Management LLC bought a new stake in Corcept Therapeutics during the 3rd quarter valued at approximately $464,000. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CORT shares. Truist Financial increased their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler upped their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and an average target price of $65.25.

Insider Activity

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total transaction of $130,812.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Guyer sold 3,394 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $48.97, for a total transaction of $166,204.18. Following the sale, the insider now directly owns 5,796 shares in the company, valued at approximately $283,830.12. The trade was a 36.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,811 shares of company stock worth $1,341,360 over the last 90 days. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Trading Down 1.7 %

NASDAQ CORT opened at $55.40 on Monday. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $62.22. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $53.06 and its 200-day moving average price is $41.29. The stock has a market cap of $5.80 billion, a P/E ratio of 43.97 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS 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.