Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 20.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 859,563 shares of the biotechnology company’s stock after buying an additional 143,507 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Corcept Therapeutics were worth $39,781,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CORT. Quest Partners LLC grew its stake in Corcept Therapeutics by 75.8% during the 3rd quarter. Quest Partners LLC now owns 9,256 shares of the biotechnology company’s stock worth $428,000 after buying an additional 3,990 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 36.2% in the third quarter. Natixis Advisors LLC now owns 28,144 shares of the biotechnology company’s stock valued at $1,303,000 after acquiring an additional 7,484 shares during the period. Empowered Funds LLC purchased a new position in shares of Corcept Therapeutics during the third quarter worth approximately $1,784,000. Royce & Associates LP grew its position in shares of Corcept Therapeutics by 3.7% during the third quarter. Royce & Associates LP now owns 363,272 shares of the biotechnology company’s stock worth $16,812,000 after acquiring an additional 13,000 shares during the last quarter. Finally, Black Diamond Financial LLC acquired a new position in shares of Corcept Therapeutics in the 3rd quarter valued at $231,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insiders Place Their Bets

In related news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was 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. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total value of $353,000.00. Following the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. This represents a 62.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,301 shares of company stock worth $1,594,253. 20.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Truist Financial increased their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Trading Up 3.2 %

Shares of Corcept Therapeutics stock opened at $54.31 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 43.10 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $61.66. The company’s 50-day simple moving average is $47.21 and its 200-day simple moving average is $37.39.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. As a group, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.31 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.