M&G Plc Takes $11.17 Million Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

M&G Plc acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 242,901 shares of the biotechnology company’s stock, valued at approximately $11,173,000. M&G Plc owned about 0.23% of Corcept Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CORT. BNP Paribas Financial Markets lifted its holdings in shares of Corcept Therapeutics by 199.0% during the first quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock valued at $5,330,000 after purchasing an additional 140,815 shares in the last quarter. Oak Ridge Investments LLC bought a new position in Corcept Therapeutics during the 2nd quarter valued at about $984,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Corcept Therapeutics by 190.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock valued at $1,684,000 after acquiring an additional 43,809 shares during the last quarter. US Bancorp DE grew its stake in shares of Corcept Therapeutics by 6,252.3% in the first quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock worth $637,000 after acquiring an additional 24,884 shares during the period. Finally, Milestone Asset Management LLC grew its stake in shares of Corcept Therapeutics by 47.4% in the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock worth $1,676,000 after acquiring an additional 16,593 shares during the period. 93.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Truist Financial raised their target price 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. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Piper Sandler increased their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of “Buy” and an average price target of $65.25.

Insider Activity

In related news, insider Gary Charles Robb sold 3,101 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the transaction, the insider now owns 23,190 shares of the company’s stock, valued at approximately $828,114.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now owns 6,039 shares in the company, valued at $213,176.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary Charles Robb sold 3,101 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the transaction, the insider now owns 23,190 shares of the company’s stock, valued at approximately $828,114.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,101 shares of company stock worth $1,462,517 in the last three months. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $54.30 on Friday. 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 stock has a 50-day simple moving average of $43.83 and a two-hundred day simple moving average of $35.39. The firm has a market capitalization of $5.69 billion, a PE ratio of 43.10 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $55.24.

Corcept Therapeutics (NASDAQ:CORT) last announced 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 company had revenue of $182.55 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. Analysts forecast that Corcept Therapeutics Incorporated will post 1.25 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.