Bank of Montreal Can Boosts Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Bank of Montreal Can increased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 5.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,156 shares of the biotechnology company’s stock after buying an additional 580 shares during the quarter. Bank of Montreal Can’s holdings in Corcept Therapeutics were worth $395,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Park Place Capital Corp acquired a new stake in shares of Corcept Therapeutics during the second quarter worth about $32,000. Atwood & Palmer Inc. purchased a new position in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $35,000. GAMMA Investing LLC increased its holdings in shares of Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 579 shares during the period. FinTrust Capital Advisors LLC raised its stake in shares of Corcept Therapeutics by 318.7% during the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,348 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 1,962 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Activity

In related news, insider Gary Charles Robb sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the transaction, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,251 shares of company stock worth $1,365,292. 20.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CORT. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. HC Wainwright increased their target price on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Piper Sandler lifted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, Truist Financial increased their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $56.50.

Corcept Therapeutics Trading Down 1.5 %

Shares of Corcept Therapeutics stock opened at $45.25 on Friday. The business’s fifty day moving average price is $38.14 and its 200 day moving average price is $32.02. The stock has a market capitalization of $4.71 billion, a P/E ratio of 42.69 and a beta of 0.46. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $47.71.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $155.14 million. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 39.1% on a year-over-year basis. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.12 EPS for the current 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.