Police & Firemen s Retirement System of New Jersey Acquires 18,074 Shares of Corcept Therapeutics Incorporated $CORT

Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 102.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 35,739 shares of the biotechnology company’s stock after acquiring an additional 18,074 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Corcept Therapeutics were worth $2,623,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CORT. Envestnet Asset Management Inc. lifted its stake in Corcept Therapeutics by 9.0% during the first quarter. Envestnet Asset Management Inc. now owns 31,770 shares of the biotechnology company’s stock worth $3,629,000 after purchasing an additional 2,613 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Corcept Therapeutics during the 1st quarter worth approximately $289,000. Victory Capital Management Inc. boosted its stake in Corcept Therapeutics by 24.5% in the 1st quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company’s stock valued at $10,670,000 after buying an additional 18,389 shares in the last quarter. Private Advisor Group LLC bought a new stake in Corcept Therapeutics in the first quarter valued at $327,000. Finally, IFP Advisors Inc raised its stake in Corcept Therapeutics by 1,150.8% during the first 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. Institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling

In other news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $73.99, for a total transaction of $1,479,800.00. Following the completion of the sale, the insider owned 7,904 shares in the company, valued at $584,816.96. The trade was a 71.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph Douglas Lyon sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $73.65, for a total value of $368,250.00. Following the transaction, the insider directly owned 10,277 shares in the company, valued at $756,901.05. This trade represents a 32.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 259,400 shares of company stock worth $20,009,288. 20.80% of the stock is currently owned by company insiders.

Corcept Therapeutics Trading Down 0.0%

CORT opened at $75.11 on Wednesday. Corcept Therapeutics Incorporated has a 1-year low of $49.00 and a 1-year high of $117.33. The stock has a market capitalization of $7.90 billion, a PE ratio of 66.47 and a beta of 0.43. The firm has a 50-day moving average price of $77.63 and a two-hundred day moving average price of $73.78.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $207.64 million for the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. Corcept Therapeutics’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CORT shares. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Wolfe Research initiated coverage on shares of Corcept Therapeutics in a research report on Tuesday. They issued a “peer perform” rating on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Thursday, November 13th. Zacks Research cut shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Finally, Piper Sandler decreased their price target on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Corcept Therapeutics has an average rating of “Hold” and a consensus target price of $135.25.

About Corcept Therapeutics

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.