13,400 Shares in Corcept Therapeutics Incorporated $CORT Bought by Strs Ohio

Strs Ohio purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 13,400 shares of the biotechnology company’s stock, valued at approximately $1,531,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group raised its stake in Corcept Therapeutics by 99.5% during the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 186 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Corcept Therapeutics by 102.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 313 shares in the last quarter. Covestor Ltd raised its stake in Corcept Therapeutics by 1,741.2% during the 1st quarter. Covestor Ltd now owns 626 shares of the biotechnology company’s stock worth $72,000 after acquiring an additional 592 shares in the last quarter. IFP Advisors Inc raised its stake in Corcept Therapeutics by 1,150.8% during the 1st quarter. IFP Advisors Inc now owns 738 shares of the biotechnology company’s stock worth $84,000 after acquiring an additional 679 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Corcept Therapeutics by 269.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 2,086 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $71.32 on Wednesday. Corcept Therapeutics Incorporated has a 1-year low of $38.68 and a 1-year high of $117.33. The firm has a 50 day simple moving average of $70.72 and a 200-day simple moving average of $69.84. The firm has a market cap of $7.51 billion, a PE ratio of 63.12 and a beta of 0.29.

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

Insider Activity at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $68.53, for a total transaction of $2,741,200.00. Following the completion of the transaction, the chief executive officer owned 2,861,370 shares of the company’s stock, valued at approximately $196,089,686.10. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 35,007 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the transaction, the insider directly owned 7,681 shares of the company’s stock, valued at $520,694.99. This trade represents a 82.01% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 222,215 shares of company stock worth $15,572,699. 20.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CORT shares. Piper Sandler dropped their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $137.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and an average target price of $135.25.

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.