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

Calamos Advisors LLC raised its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 63.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,114 shares of the biotechnology company's stock after purchasing an additional 24,788 shares during the quarter. 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 have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in Corcept Therapeutics by 3.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company's stock valued at $909,000 after buying an additional 230 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Corcept Therapeutics by 9.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company's stock valued at $150,000 after acquiring an additional 257 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Corcept Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company's stock valued at $426,000 after acquiring an additional 268 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Corcept Therapeutics by 1.1% in the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company's stock worth $1,374,000 after acquiring an additional 289 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Corcept Therapeutics by 102.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock worth $71,000 after purchasing an additional 313 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock traded up $0.62 on Tuesday, reaching $68.16. The company had a trading volume of 1,096,840 shares, compared to its average volume of 1,184,318. The firm's 50 day moving average price is $72.70 and its two-hundred day moving average price is $66.10. Corcept Therapeutics Incorporated has a 52-week low of $29.42 and a 52-week high of $117.33. The firm has a market cap of $7.23 billion, a PE ratio of 58.76 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The company had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Activity

In other Corcept Therapeutics news, Director David L. Mahoney sold 27,352 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $74.23, for a total transaction of $2,030,338.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $82.86, for a total transaction of $3,314,400.00. Following the sale, the chief executive officer owned 2,901,985 shares in the company, valued at approximately $240,458,477.10. This trade represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,233 shares of company stock worth $17,014,551 in the last quarter. Insiders own 20.50% of the company's stock.

Wall Street Analyst Weigh In

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

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.