American Century Companies Inc. Boosts Stake in Corcept Therapeutics Incorporated $CORT

American Century Companies Inc. lifted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 15.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,362 shares of the biotechnology company’s stock after purchasing an additional 15,494 shares during the period. American Century Companies Inc. owned 0.11% of Corcept Therapeutics worth $13,062,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in shares of Corcept Therapeutics by 3.7% in the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company’s stock worth $453,729,000 after purchasing an additional 142,784 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Corcept Therapeutics by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company’s stock worth $243,708,000 after buying an additional 57,942 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company’s stock worth $69,381,000 after buying an additional 153,100 shares during the period. Invesco Ltd. boosted its holdings in Corcept Therapeutics by 76.5% in the 1st quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company’s stock worth $142,345,000 after buying an additional 540,101 shares during the period. Finally, Northern Trust Corp boosted its holdings in Corcept Therapeutics by 10.2% in the 4th quarter. Northern Trust Corp now owns 1,015,515 shares of the biotechnology company’s stock worth $51,172,000 after buying an additional 94,128 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CORT. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. HC Wainwright decreased their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Canaccord Genuity Group decreased their target price on shares of Corcept Therapeutics from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Finally, Piper Sandler decreased their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $134.50.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $68.82 on Tuesday. The firm has a market cap of $7.25 billion, a PE ratio of 60.90 and a beta of 0.20. The firm’s 50 day simple moving average is $71.14 and its 200-day simple moving average is $69.45. Corcept Therapeutics Incorporated has a one year low of $33.34 and a one year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $194.43 million for the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other news, insider William Guyer sold 35,007 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $71.77, for a total transaction of $2,512,452.39. Following the transaction, the insider directly owned 5,487 shares in the company, valued at approximately $393,801.99. This trade represents a 86.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Douglas Lyon sold 5,823 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.51, for a total transaction of $393,110.73. Following the transaction, the insider directly owned 10,066 shares in the company, valued at approximately $679,555.66. The trade was a 36.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 222,215 shares of company stock valued at $16,311,201. 20.50% 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.