32,125 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Acquired by Bank of Montreal Can

Bank of Montreal Can bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the second quarter, according to its most recent filing with the SEC. The firm bought 32,125 shares of the biotechnology company’s stock, valued at approximately $749,000.

Other institutional investors also recently bought and sold shares of the company. CWM LLC boosted its stake in Corcept Therapeutics by 392.8% in the 1st quarter. CWM LLC now owns 2,134 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 1,701 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in Corcept Therapeutics in the 1st quarter worth approximately $47,000. Advisory Services Network LLC lifted its stake in Corcept Therapeutics by 1,247.1% during the 1st quarter. Advisory Services Network LLC now owns 3,004 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 2,781 shares during the period. Quantbot Technologies LP acquired a new stake in Corcept Therapeutics during the 2nd quarter valued at approximately $76,000. Finally, Point72 Middle East FZE acquired a new stake in Corcept Therapeutics during the 4th quarter valued at approximately $107,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. HC Wainwright lifted their price objective on shares of Corcept Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. LADENBURG THALM/SH SH lifted their price objective on shares of Corcept Therapeutics from $44.00 to $47.50 in a research note on Thursday, August 3rd. Finally, StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.19.

Corcept Therapeutics Price Performance

CORT opened at $25.44 on Wednesday. The firm has a fifty day moving average price of $28.82 and a 200 day moving average price of $26.68. Corcept Therapeutics Incorporated has a 1 year low of $17.86 and a 1 year high of $34.28. The stock has a market cap of $2.62 billion, a P/E ratio of 31.41 and a beta of 0.43.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.22 by $0.06. The company had revenue of $123.60 million during the quarter, compared to analyst estimates of $119.71 million. Corcept Therapeutics had a net margin of 20.20% and a return on equity of 18.99%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. Equities analysts expect that Corcept Therapeutics Incorporated will post 0.89 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $32.90, for a total value of $72,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $32.90, for a total transaction of $72,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Maduck sold 3,031 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $27.24, for a total transaction of $82,564.44. Following the sale, the insider now directly owns 73,610 shares of the company’s stock, valued at approximately $2,005,136.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,827 shares of company stock valued at $2,436,963. 18.60% of the stock is owned by corporate insiders.

Corcept Therapeutics Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.