Corcept Therapeutics Incorporated $CORT Shares Sold by Swiss National Bank

Swiss National Bank lessened its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 181,365 shares of the biotechnology company’s stock after selling 1,300 shares during the period. Swiss National Bank owned approximately 0.17% of Corcept Therapeutics worth $13,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc acquired a new stake in Corcept Therapeutics in the second quarter valued at about $60,179,000. Jupiter Asset Management Ltd. lifted its holdings in shares of Corcept Therapeutics by 8,176.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company’s stock valued at $68,978,000 after buying an additional 596,606 shares during the period. Invesco Ltd. boosted its stake in shares of Corcept Therapeutics by 76.5% in the first quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company’s stock valued at $142,345,000 after buying an additional 540,101 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Corcept Therapeutics in the first quarter valued at approximately $35,580,000. Finally, Driehaus Capital Management LLC acquired a new position in Corcept Therapeutics during the first quarter worth $29,657,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Sean Maduck sold 20,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $85.06, for a total transaction of $1,701,200.00. Following the sale, the insider owned 7,904 shares of the company’s stock, valued at $672,314.24. This trade represents a 71.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Guyer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $70.49, for a total transaction of $1,409,800.00. Following the completion of the transaction, the insider directly owned 5,487 shares of the company’s stock, valued at $386,778.63. The trade was a 78.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 263,900 shares of company stock valued at $20,373,338. Corporate insiders own 20.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CORT shares. Piper Sandler reduced their target price on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, August 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, November 19th. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a report on Thursday, September 25th. Finally, Wall Street Zen lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $135.25.

Corcept Therapeutics Trading Down 0.6%

Shares of CORT opened at $79.80 on Friday. The stock has a market cap of $8.39 billion, a P/E ratio of 70.62 and a beta of 0.43. The company has a 50-day moving average of $78.26 and a two-hundred day moving average of $74.07. Corcept Therapeutics Incorporated has a 12-month low of $49.00 and a 12-month high of $117.33.

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). Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The business had revenue of $207.64 million during the quarter, compared to analyst estimates of $223.78 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

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.