Calamos Advisors LLC Acquires 24,788 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Calamos Advisors LLC increased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 63.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,114 shares of the biotechnology company's stock after acquiring an additional 24,788 shares during the period. Calamos Advisors LLC owned about 0.06% of Corcept Therapeutics worth $7,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in shares of Corcept Therapeutics by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 530,460 shares of the biotechnology company's stock worth $60,589,000 after acquiring an additional 13,128 shares during the last quarter. Meritage Portfolio Management raised its holdings in shares of Corcept Therapeutics by 22.2% in the 1st quarter. Meritage Portfolio Management now owns 36,439 shares of the biotechnology company's stock worth $4,162,000 after acquiring an additional 6,628 shares during the last quarter. Revisor Wealth Management LLC acquired a new stake in shares of Corcept Therapeutics in the 1st quarter worth about $293,000. Lisanti Capital Growth LLC raised its holdings in shares of Corcept Therapeutics by 28.1% in the 1st quarter. Lisanti Capital Growth LLC now owns 99,460 shares of the biotechnology company's stock worth $11,360,000 after acquiring an additional 21,795 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Corcept Therapeutics in the 1st quarter worth about $331,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Stock Down 5.2%

CORT traded down $3.78 on Monday, hitting $68.49. The company's stock had a trading volume of 333,569 shares, compared to its average volume of 1,177,511. The company's 50 day simple moving average is $72.87 and its 200-day simple moving average is $65.97. The firm has a market cap of $7.26 billion, a P/E ratio of 59.07 and a beta of 0.15. Corcept Therapeutics Incorporated has a 12 month low of $29.42 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. Corcept Therapeutics's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on CORT. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Wall Street Zen downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. Finally, HC Wainwright reduced their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $138.25.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $78.04, for a total value of $390,200.00. Following the sale, the insider directly owned 9,009 shares in the company, valued at $703,062.36. This represents a 35.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean Maduck sold 26,554 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $72.23, for a total transaction of $1,917,995.42. Following the completion of the sale, the insider owned 85,622 shares in the company, valued at $6,184,477.06. This represents a 23.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,233 shares of company stock worth $17,014,551 in the last 90 days. 20.50% of the stock is currently owned by company insiders.

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.