IFP Advisors Inc Has $31,000 Stock Position in Corcept Therapeutics Incorporated $CORT

IFP Advisors Inc lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 42.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 426 shares of the biotechnology company’s stock after selling 312 shares during the period. IFP Advisors Inc’s holdings in Corcept Therapeutics were worth $31,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. lifted its position in Corcept Therapeutics by 24.5% during the first quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company’s stock valued at $10,670,000 after purchasing an additional 18,389 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Corcept Therapeutics by 883.0% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company’s stock valued at $1,443,000 after buying an additional 17,660 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Corcept Therapeutics in the first quarter valued at $331,000. Robeco Institutional Asset Management B.V. purchased a new position in Corcept Therapeutics during the 1st quarter valued at $355,000. Finally, Voya Investment Management LLC increased its holdings in shares of Corcept Therapeutics by 5.3% in the 1st quarter. Voya Investment Management LLC now owns 234,648 shares of the biotechnology company’s stock valued at $26,801,000 after acquiring an additional 11,898 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 2,781,370 shares of the company’s stock, valued at $236,638,959.60. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Douglas Lyon sold 5,823 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $67.51, for a total transaction of $393,110.73. Following the sale, the insider directly owned 10,066 shares in the company, valued at $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 quarter, insiders have sold 292,451 shares of company stock worth $21,850,930. 20.80% of the stock is currently owned by company insiders.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $73.65 on Thursday. Corcept Therapeutics Incorporated has a one year low of $42.01 and a one year high of $117.33. The stock has a market capitalization of $7.76 billion, a PE ratio of 65.18 and a beta of 0.46. The company’s 50-day moving average price is $76.20 and its two-hundred day moving average price is $73.04.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data 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 firm had revenue of $194.43 million during the quarter, compared to analysts’ expectations of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CORT. Canaccord Genuity Group restated a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. HC Wainwright reiterated a “buy” rating and set a $145.00 price objective on shares of Corcept Therapeutics in a report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Finally, Zacks Research lowered Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.