Deutsche Bank AG Buys 24,051 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Deutsche Bank AG grew its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 48.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,600 shares of the biotechnology company's stock after purchasing an additional 24,051 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of Corcept Therapeutics worth $3,709,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CORT. Ballentine Partners LLC purchased a new stake in shares of Corcept Therapeutics during the 4th quarter valued at about $200,000. Nisa Investment Advisors LLC increased its holdings in Corcept Therapeutics by 8.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,665 shares of the biotechnology company's stock worth $537,000 after acquiring an additional 814 shares in the last quarter. Inspire Investing LLC purchased a new stake in Corcept Therapeutics in the 4th quarter worth approximately $807,000. Linden Thomas Advisory Services LLC increased its holdings in Corcept Therapeutics by 2.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 63,224 shares of the biotechnology company's stock worth $3,186,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Corcept Therapeutics by 47.8% in the 4th quarter. Blue Trust Inc. now owns 17,225 shares of the biotechnology company's stock worth $797,000 after acquiring an additional 5,567 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

CORT stock traded up $2.60 during midday trading on Monday, hitting $78.69. The company's stock had a trading volume of 974,618 shares, compared to its average volume of 1,130,348. Corcept Therapeutics Incorporated has a 12 month low of $28.04 and a 12 month high of $117.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 62.45 and a beta of 0.22. The company has a 50 day moving average of $71.01 and a two-hundred day moving average of $62.82.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results 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 24.54% and a net margin of 22.35%. The business had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. During the same period in the prior year, the company posted $0.25 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Corcept Therapeutics news, insider William Guyer sold 32,262 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $74.17, for a total value of $2,392,872.54. Following the completion of the transaction, the insider now directly owns 5,487 shares in the company, valued at $406,970.79. This represents a 85.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joseph K. Belanoff sold 2,924 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the transaction, the chief executive officer now owns 3,019,411 shares of the company's stock, valued at $183,912,324.01. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 296,352 shares of company stock worth $24,908,205 in the last three months. 20.80% of the stock is owned by company insiders.

About Corcept Therapeutics

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.