16,016 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Acquired by Inspire Investing LLC

Inspire Investing LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,016 shares of the biotechnology company’s stock, valued at approximately $807,000.

Other large investors have also recently added to or reduced their stakes in the company. M&G PLC bought a new stake in Corcept Therapeutics during the third quarter worth approximately $11,173,000. Empowered Funds LLC purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $1,784,000. Victory Capital Management Inc. lifted its position in shares of Corcept Therapeutics by 49.2% in the 3rd quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after acquiring an additional 13,787 shares in the last quarter. State Street Corp lifted its position in shares of Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after acquiring an additional 19,893 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Corcept Therapeutics by 20.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock valued at $39,781,000 after acquiring an additional 143,507 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Down 3.7 %

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 quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 47.61 and a beta of 0.56. The company has a 50 day moving average of $55.16 and a two-hundred day moving average of $45.77.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The business 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 quarter last year, the firm earned $0.28 EPS. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CORT has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Truist Financial upped their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $65.25.

Insider Activity

In related news, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total transaction of $111,188.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,011 shares of company stock worth $1,951,268. 20.50% of the stock is owned by corporate insiders.

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.