Inspire Investing LLC Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Inspire Investing LLC purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, Holdings Channel reports. The firm purchased 16,016 shares of the biotechnology company’s stock, valued at approximately $807,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hancock Whitney Corp grew its position in Corcept Therapeutics by 1.2% in the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock worth $1,062,000 after purchasing an additional 270 shares during the last quarter. KBC Group NV lifted its holdings in shares of Corcept Therapeutics by 21.3% during the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 496 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Corcept Therapeutics by 20.3% during the 4th quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock worth $151,000 after acquiring an additional 506 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics during the 3rd quarter worth about $25,000. Finally, Bank of Montreal Can lifted its holdings in shares of Corcept Therapeutics by 5.0% during the 2nd quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company’s stock worth $395,000 after acquiring an additional 580 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corcept Therapeutics

In other news, insider William Guyer sold 6,606 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $48.97, for a total transaction of $323,495.82. Following the transaction, the insider now directly owns 5,796 shares in the company, valued at approximately $283,830.12. This represents a 53.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, the insider now owns 85,318 shares in the company, valued at $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,011 shares of company stock worth $1,951,268. Corporate insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CORT. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Truist Financial raised their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Trading Down 3.7 %

Shares of CORT stock opened at $59.99 on Friday. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $62.98. The company has a market capitalization of $6.29 billion, a P/E ratio of 47.61 and a beta of 0.56. The firm has a 50-day moving average price of $55.16 and a 200 day moving average price of $45.77. 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 (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 the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same period last year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. Research analysts forecast that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Corcept Therapeutics Company 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.