Blue Trust Inc. Acquires 5,567 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Blue Trust Inc. lifted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 47.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,225 shares of the biotechnology company’s stock after acquiring an additional 5,567 shares during the period. Blue Trust Inc.’s holdings in Corcept Therapeutics were worth $797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CORT. Capital Performance Advisors LLP purchased a new position in Corcept Therapeutics in the 3rd quarter worth about $25,000. Kathleen S. Wright Associates Inc. bought a new position in Corcept Therapeutics in the 3rd quarter worth about $36,000. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $54,000. GAMMA Investing LLC raised 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 boosted its holdings in shares of Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 496 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Up 1.4 %

Corcept Therapeutics stock opened at $61.53 on Thursday. The business’s 50-day simple moving average is $55.55 and its two-hundred day simple moving average is $46.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company has a market cap of $6.45 billion, a PE ratio of 48.83 and a beta of 0.56. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $62.98.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results 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. The company had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 earnings per share. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Guyer sold 6,606 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $48.97, for a total transaction of $323,495.82. Following the sale, the insider now directly owns 5,796 shares in the company, valued at approximately $283,830.12. The trade was a 53.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,011 shares of company stock valued at $1,951,268 over the last ninety days. Company insiders own 20.50% of the company’s stock.

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.