Creative Planning Acquires 841 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Creative Planning boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,467 shares of the biotechnology company’s stock after buying an additional 841 shares during the quarter. Creative Planning’s holdings in Corcept Therapeutics were worth $577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CORT. Kathleen S. Wright Associates Inc. acquired a new stake in Corcept Therapeutics in the third quarter valued at approximately $36,000. CWM LLC lifted its stake in shares of Corcept Therapeutics by 81.5% in the 3rd quarter. CWM LLC now owns 8,976 shares of the biotechnology company’s stock valued at $415,000 after acquiring an additional 4,030 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Corcept Therapeutics by 85.4% during the 3rd 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. Handelsbanken Fonder AB grew its position in Corcept Therapeutics by 60.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 30,981 shares of the biotechnology company’s stock worth $1,434,000 after acquiring an additional 11,700 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Corcept Therapeutics by 262.5% in the 3rd quarter. SG Americas Securities LLC now owns 29,663 shares of the biotechnology company’s stock worth $1,373,000 after purchasing an additional 21,479 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Trading Up 5.1 %

CORT opened at $50.06 on Tuesday. The company has a fifty day moving average price of $42.40 and a two-hundred day moving average price of $34.73. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $51.32. The company has a market cap of $5.25 billion, a P/E ratio of 39.73 and a beta of 0.45. The company has a current ratio of 3.70, a quick ratio of 5.48 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 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 period in the previous year, the company posted $0.28 EPS. The firm’s revenue was up 47.7% compared to the same quarter last year. Analysts predict that Corcept Therapeutics Incorporated will post 1.19 EPS for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other 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 value of $509,080.00. Following the transaction, the insider now owns 22,772 shares in the company, valued at $1,053,888.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider William Guyer sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total value of $353,000.00. Following the transaction, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the transaction, the insider now owns 22,772 shares of the company’s stock, valued at $1,053,888.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,101 shares of company stock worth $972,817. Insiders own 20.50% of the company’s stock.

Wall Street Analysts Forecast Growth

CORT has been the subject of several analyst reports. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Piper Sandler raised their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, 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.