Franklin Resources Inc. Has $11 Million Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Franklin Resources Inc. lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 242,791 shares of the biotechnology company’s stock after buying an additional 2,475 shares during the period. Franklin Resources Inc. owned about 0.23% of Corcept Therapeutics worth $10,998,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CORT. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics during the third quarter worth about $25,000. Kathleen S. Wright Associates Inc. bought a new stake in Corcept Therapeutics during the 3rd quarter worth approximately $36,000. GAMMA Investing LLC increased its position in Corcept Therapeutics by 85.4% in the 3rd 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 during the period. nVerses Capital LLC raised its stake in shares of Corcept Therapeutics by 62.5% during the second quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 1,500 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Corcept Therapeutics by 21.3% during the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 496 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $51.40 on Friday. The firm has a 50 day moving average of $53.83 and a 200-day moving average of $41.98. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 40.79 and a beta of 0.51. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same period last year, the company posted $0.28 earnings per share. The business’s quarterly revenue was up 47.7% on a year-over-year basis. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider William Guyer sold 3,394 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $48.97, for a total transaction of $166,204.18. Following the completion of the sale, the insider now owns 5,796 shares in the company, valued at approximately $283,830.12. This represents a 36.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gary Charles Robb sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total transaction of $509,080.00. Following the transaction, the insider now directly owns 22,772 shares in the company, valued at $1,053,888.16. The trade was a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,811 shares of company stock valued at $1,341,360. Corporate insiders own 20.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CORT. Truist Financial upped their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a 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, Piper Sandler lifted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average 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.