Campbell Newman Asset Management Inc. Decreases Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Campbell Newman Asset Management Inc. lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,127 shares of the biotechnology company’s stock after selling 247 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Corcept Therapeutics were worth $2,476,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CORT. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics in the 3rd quarter worth about $25,000. Kathleen S. Wright Associates Inc. acquired a new stake in Corcept Therapeutics during the third quarter valued at approximately $36,000. GAMMA Investing LLC grew its position in shares of Corcept Therapeutics by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,147 shares in the last quarter. KBC Group NV raised its position in shares of Corcept Therapeutics by 21.3% during the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after acquiring an additional 496 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Corcept Therapeutics during the second quarter worth $205,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded up $0.92 during midday trading on Wednesday, reaching $52.58. The company’s stock had a trading volume of 21,440 shares, compared to its average volume of 687,605. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 41.73 and a beta of 0.56. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $62.22. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $54.90 and a 200 day moving average price of $44.47.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 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 return on equity of 24.54% and a net margin of 22.35%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the completion of the sale, the insider now owns 8,494 shares of the company’s stock, valued at $481,779.68. This trade represents a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider William Guyer sold 6,606 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the transaction, the insider now directly owns 5,796 shares in the company, valued at $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. In the last quarter, insiders have sold 38,011 shares of company stock valued at $1,951,268. 20.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Piper Sandler lifted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Truist Financial boosted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $65.25.

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.