Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 20.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 859,563 shares of the biotechnology company’s stock after purchasing an additional 143,507 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.82% of Corcept Therapeutics worth $39,781,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Corcept Therapeutics in the 1st quarter worth approximately $18,426,000. Clearbridge Investments LLC purchased a new stake in Corcept Therapeutics in the first quarter valued at approximately $14,670,000. M&G PLC acquired a new position in Corcept Therapeutics during the third quarter worth $11,173,000. Janus Henderson Group PLC boosted its position in shares of Corcept Therapeutics by 482.6% during the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock worth $6,677,000 after buying an additional 219,551 shares during the period. Finally, abrdn plc grew its stake in shares of Corcept Therapeutics by 27.1% in the third quarter. abrdn plc now owns 666,952 shares of the biotechnology company’s stock valued at $30,867,000 after buying an additional 142,310 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CORT shares. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Truist Financial lifted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Piper Sandler increased their target price 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. Finally, Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $54.31 on Wednesday. The business has a 50-day simple moving average of $47.21 and a 200-day simple moving average of $37.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $61.66. The company has a market cap of $5.69 billion, a PE ratio of 43.10 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.31 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Guyer sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the transaction, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 62.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,301 shares of company stock valued at $1,594,253 over the last quarter. 20.50% of the stock is owned by insiders.

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.