Truist Financial Corp Buys 631 Shares of Corcept Therapeutics Incorporated $CORT

Truist Financial Corp increased its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 23.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,309 shares of the biotechnology company’s stock after buying an additional 631 shares during the period. Truist Financial Corp’s holdings in Corcept Therapeutics were worth $243,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Corcept Therapeutics by 2.8% during 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. Invesco Ltd. boosted its holdings in shares of Corcept Therapeutics by 76.5% during 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. Northern Trust Corp boosted its holdings in shares of Corcept Therapeutics by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company’s stock worth $116,733,000 after buying an additional 6,486 shares during the period. Cerity Partners LLC boosted its holdings in shares of Corcept Therapeutics by 1.1% during the 1st quarter. Cerity Partners LLC now owns 614,794 shares of the biotechnology company’s stock worth $70,222,000 after buying an additional 6,848 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Corcept Therapeutics by 8,176.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company’s stock worth $68,978,000 after buying an additional 596,606 shares during the period. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $78.69 on Friday. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 69.64 and a beta of 0.46. The firm has a 50 day simple moving average of $76.01 and a 200 day simple moving average of $73.11. Corcept Therapeutics Incorporated has a one year low of $42.01 and a one year high of $117.33.

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

Insider Activity at Corcept Therapeutics

In related news, insider Sean Maduck sold 35,007 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.79, for a total value of $2,373,124.53. Following the completion of the transaction, the insider owned 7,681 shares of the company’s stock, valued at $520,694.99. This represents a 82.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the insider directly owned 5,487 shares of the company’s stock, valued at approximately $393,801.99. The trade was a 86.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 292,451 shares of company stock worth $21,850,930 in the last 90 days. 20.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CORT shares. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and issued a $145.00 price objective on shares of Corcept Therapeutics in a report on Friday, October 10th. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Finally, Piper Sandler cut their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, August 1st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

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.