Thrivent Financial for Lutherans Sells 3,027 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Thrivent Financial for Lutherans cut its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,030 shares of the biotechnology company’s stock after selling 3,027 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.07% of Corcept Therapeutics worth $3,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CORT. Capital Performance Advisors LLP purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at approximately $25,000. Park Place Capital Corp purchased a new stake in shares of Corcept Therapeutics during the second quarter worth $32,000. Atwood & Palmer Inc. bought a new position in shares of Corcept Therapeutics in the second quarter worth $35,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Corcept Therapeutics in the third quarter valued at $36,000. Finally, Blue Trust Inc. raised its stake in shares of Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,962 shares during the period. Institutional investors own 93.61% of the company’s stock.

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Guyer sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. This represents a 62.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,200 shares of company stock worth $1,483,516. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Trading Up 2.6 %

Shares of CORT opened at $59.03 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $61.66. The company has a market capitalization of $6.19 billion, a P/E ratio of 46.85 and a beta of 0.45. The firm’s 50 day simple moving average is $48.41 and its 200 day simple moving average is $38.07.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CORT. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Finally, Piper Sandler upped their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Buy” and an average price target of $65.25.

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.