Calamos Advisors LLC Increases Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Calamos Advisors LLC grew its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 63.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,114 shares of the biotechnology company's stock after buying an additional 24,788 shares during the period. Calamos Advisors LLC owned 0.06% of Corcept Therapeutics worth $7,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio grew its position in Corcept Therapeutics by 269.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company's stock valued at $144,000 after acquiring an additional 2,086 shares during the period. HighTower Advisors LLC lifted its position in Corcept Therapeutics by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock worth $4,720,000 after acquiring an additional 22,011 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in Corcept Therapeutics during the 1st quarter worth approximately $331,000. JPMorgan Chase & Co. lifted its position in Corcept Therapeutics by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company's stock worth $13,096,000 after acquiring an additional 6,832 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $12,084,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $72.42, for a total value of $1,448,400.00. Following the completion of the sale, the insider owned 5,487 shares of the company's stock, valued at approximately $397,368.54. This trade represents a 78.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $70.61, for a total value of $155,342.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,233 shares of company stock worth $17,014,551. Insiders own 20.80% of the company's stock.

Analyst Upgrades and Downgrades

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

Corcept Therapeutics Trading Up 3.0%

Corcept Therapeutics stock traded up $2.03 during trading on Wednesday, hitting $70.19. 532,210 shares of the company were exchanged, compared to its average volume of 1,181,902. The business's 50 day moving average is $72.70 and its 200 day moving average is $66.10. Corcept Therapeutics Incorporated has a 52 week low of $29.42 and a 52 week high of $117.33. The company has a market capitalization of $7.44 billion, a P/E ratio of 60.34 and a beta of 0.15.

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

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.