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

Calamos Advisors LLC increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 63.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,114 shares of the biotechnology company's stock after purchasing an additional 24,788 shares during the period. Calamos Advisors LLC owned approximately 0.06% of Corcept Therapeutics worth $7,323,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Corcept Therapeutics by 102.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock valued at $71,000 after buying an additional 313 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $40,000. National Bank of Canada FI acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $42,000. Gen Wealth Partners Inc acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $67,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $69,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Up 1.8%

CORT stock traded up $1.31 during mid-day trading on Friday, reaching $72.65. 675,773 shares of the company traded hands, compared to its average volume of 1,180,525. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 62.63 and a beta of 0.15. Corcept Therapeutics Incorporated has a fifty-two week low of $29.42 and a fifty-two week high of $117.33. The firm's 50 day moving average price is $72.87 and its 200 day moving average price is $65.87.

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 for the quarter, hitting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The firm had revenue of $157.21 million for the quarter, compared to the consensus estimate of $177.93 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company's revenue was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on CORT. Piper Sandler raised their target price 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 target price on Corcept Therapeutics in a research note on Tuesday, May 6th. HC Wainwright cut their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $138.25.

Insider Transactions at Corcept Therapeutics

In other news, Director David L. Mahoney sold 27,352 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $74.23, for a total value of $2,030,338.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $82.86, for a total value of $3,314,400.00. Following the completion of the transaction, the chief executive officer owned 2,901,985 shares in the company, valued at $240,458,477.10. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,233 shares of company stock worth $17,014,551. 20.80% of the stock is owned by insiders.

Corcept Therapeutics 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.