Corcept Therapeutics Incorporated $CORT Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,231 shares of the biotechnology company’s stock after acquiring an additional 1,916 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Corcept Therapeutics were worth $1,779,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Huntington National Bank raised its holdings in Corcept Therapeutics by 54.0% during the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 168 shares in the last quarter. Focus Partners Wealth grew its position in shares of Corcept Therapeutics by 0.5% in the 1st quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock valued at $3,797,000 after buying an additional 170 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Corcept Therapeutics by 1.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,951 shares of the biotechnology company’s stock worth $730,000 after acquiring an additional 180 shares in the last quarter. Brooklyn Investment Group lifted its position in Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 186 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Corcept Therapeutics by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock valued at $3,237,000 after acquiring an additional 200 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CORT shares. HC Wainwright reaffirmed a “buy” rating and set a $145.00 price objective on shares of Corcept Therapeutics in a report on Monday, October 20th. Zacks Research downgraded Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Canaccord Genuity Group reiterated a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday. Finally, Wolfe Research initiated coverage on shares of Corcept Therapeutics in a report on Tuesday. They issued a “peer perform” rating on the stock. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Corcept Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $135.25.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $77.29 on Friday. The business has a 50 day simple moving average of $77.82 and a 200-day simple moving average of $73.83. Corcept Therapeutics Incorporated has a 12 month low of $49.00 and a 12 month high of $117.33. The stock has a market capitalization of $8.13 billion, a PE ratio of 68.40 and a beta of 0.43.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $207.64 million during the quarter, compared to analysts’ expectations of $223.78 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $70.49, for a total transaction of $1,409,800.00. Following the transaction, the insider owned 5,487 shares in the company, valued at approximately $386,778.63. The trade was a 78.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total value of $3,403,200.00. Following the transaction, the chief executive officer directly owned 2,781,370 shares of the company’s stock, valued at approximately $236,638,959.60. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 259,400 shares of company stock worth $20,009,288 over the last ninety days. 20.80% of the stock is currently owned by company insiders.

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.