Cornercap Investment Counsel Inc. Has $426,000 Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cornercap Investment Counsel Inc. cut its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 59.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,212 shares of the biotechnology company’s stock after selling 13,785 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Corcept Therapeutics were worth $426,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics in the third quarter worth $25,000. Park Place Capital Corp acquired a new stake in Corcept Therapeutics in the second quarter worth $32,000. Atwood & Palmer Inc. acquired a new stake in shares of Corcept Therapeutics during the second quarter worth $35,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Corcept Therapeutics during the third quarter worth $36,000. Finally, Blue Trust Inc. raised 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 acquiring an additional 1,962 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on CORT shares. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Piper Sandler raised their price objective 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. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, Truist Financial raised their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Corcept Therapeutics currently has an average rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Stock Down 5.4 %

Shares of CORT stock opened at $51.83 on Friday. 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 1 year low of $20.84 and a 1 year high of $61.66. The firm’s fifty day moving average price is $46.46 and its two-hundred day moving average price is $36.90. The firm has a market capitalization of $5.43 billion, a P/E ratio of 41.14 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, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same period in the previous year, the business earned $0.28 EPS. The company’s revenue was up 47.7% compared to the same quarter last year. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 1.31 EPS for the current fiscal year.

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Guyer sold 6,606 shares of Corcept Therapeutics stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $48.97, for a total transaction of $323,495.82. Following the completion of the transaction, the insider now directly owns 5,796 shares of the company’s stock, valued at approximately $283,830.12. This trade represents a 53.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,301 shares of company stock valued at $1,594,253 in the last quarter. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Company 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.