Nisa Investment Advisors LLC Increases Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Nisa Investment Advisors LLC boosted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,665 shares of the biotechnology company’s stock after acquiring an additional 814 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Corcept Therapeutics were worth $537,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CORT. Capital Performance Advisors LLP purchased a new position in shares of Corcept Therapeutics in the third quarter valued at $25,000. Kathleen S. Wright Associates Inc. acquired a new position in Corcept Therapeutics in the 3rd quarter worth $36,000. USA Financial Formulas purchased a new position in Corcept Therapeutics in the 4th quarter valued at about $54,000. GAMMA Investing LLC grew its stake in shares of Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 1,147 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Corcept Therapeutics by 21.3% during the third 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 last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 8,494 shares of the company’s stock, valued at $481,779.68. The trade was a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,011 shares of company stock worth $1,951,268. Company insiders own 20.50% of the company’s stock.

Wall Street Analyst Weigh In

CORT has been the subject of a number of analyst reports. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics has an average rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Price Performance

Shares of CORT opened at $60.66 on Wednesday. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 48.14 and a beta of 0.56. The stock has a 50 day moving average of $55.45 and a 200-day moving average of $46.40. 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 52 week low of $20.84 and a 52 week high of $62.98.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

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.