JPMorgan Chase & Co. Has $11.71 Million Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

JPMorgan Chase & Co. boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 43.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 253,070 shares of the biotechnology company’s stock after purchasing an additional 76,573 shares during the quarter. JPMorgan Chase & Co. owned 0.24% of Corcept Therapeutics worth $11,712,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CORT. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock worth $56,637,000 after acquiring an additional 352,947 shares during the period. FMR LLC boosted its stake in shares of Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after purchasing an additional 269,074 shares in the last quarter. M&G PLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at approximately $11,173,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Corcept Therapeutics by 20.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock worth $39,781,000 after purchasing an additional 143,507 shares in the last quarter. Finally, abrdn plc increased its position in Corcept Therapeutics by 27.1% during the 3rd quarter. abrdn plc now owns 666,952 shares of the biotechnology company’s stock worth $30,867,000 after purchasing an additional 142,310 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Trading Down 3.6 %

Shares of Corcept Therapeutics stock opened at $49.85 on Monday. The stock has a fifty day simple moving average of $54.89 and a 200 day simple moving average of $44.11. The company has a market capitalization of $5.22 billion, a P/E ratio of 39.56 and a beta of 0.56. 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 12-month low of $20.84 and a 12-month high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. The business 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 business’s revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the sale, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total transaction of $130,812.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,811 shares of company stock worth $1,840,080. Insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Piper Sandler raised their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Truist Financial raised their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $65.25.

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.