Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Holdings Raised by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 40.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,223,781 shares of the biotechnology company’s stock after buying an additional 352,947 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Corcept Therapeutics were worth $56,637,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Corcept Therapeutics during the third quarter worth $25,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at about $36,000. Blue Trust Inc. raised its stake in Corcept Therapeutics by 125.4% during the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,962 shares during the period. GAMMA Investing LLC lifted its holdings in 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. Finally, nVerses Capital LLC boosted its stake in Corcept Therapeutics by 62.5% in the second quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 1,500 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Gary Charles Robb sold 11,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total value of $509,080.00. Following the transaction, the insider now directly owns 22,772 shares in the company, valued at approximately $1,053,888.16. This trade represents a 32.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Douglas Lyon sold 1,411 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total transaction of $80,031.92. Following the transaction, the insider now directly owns 8,494 shares of the company’s stock, valued at approximately $481,779.68. This represents a 14.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,611 shares of company stock valued at $1,210,548 over the last ninety days. Corporate insiders own 20.50% of the company’s stock.

Corcept Therapeutics Trading Up 0.8 %

NASDAQ CORT opened at $59.67 on Wednesday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $61.66. The firm’s fifty day simple moving average is $50.82 and its 200-day simple moving average is $39.61. The company has a market capitalization of $6.25 billion, a PE ratio of 47.36 and a beta of 0.51.

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 return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. During the same period in the previous year, the company earned $0.28 EPS. The firm’s revenue was up 47.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CORT shares. HC Wainwright restated 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 boosted their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Finally, 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 research note on Monday, September 30th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $65.25.

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.