Legal & General Group Plc Boosts Holdings in Corcept Therapeutics Incorporated $CORT

Legal & General Group Plc boosted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 10.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 298,822 shares of the biotechnology company’s stock after acquiring an additional 28,685 shares during the period. Legal & General Group Plc owned 0.28% of Corcept Therapeutics worth $21,934,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Huntington National Bank raised its holdings in shares of Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 168 shares during the period. Focus Partners Wealth grew its holdings in Corcept Therapeutics by 0.5% during the first quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock valued at $3,797,000 after purchasing an additional 170 shares during the period. Nisa Investment Advisors LLC increased its position in Corcept Therapeutics by 1.8% in the second quarter. Nisa Investment Advisors LLC now owns 9,951 shares of the biotechnology company’s stock worth $730,000 after buying an additional 180 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 186 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in shares of Corcept Therapeutics by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock valued at $3,237,000 after buying an additional 200 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Trading Down 0.6%

Shares of Corcept Therapeutics stock opened at $79.80 on Friday. The company’s 50-day moving average price is $78.26 and its 200-day moving average price is $74.07. Corcept Therapeutics Incorporated has a 12-month low of $49.00 and a 12-month high of $117.33. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 70.62 and a beta of 0.43.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data 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 firm had revenue of $207.64 million for the quarter, compared to analysts’ expectations of $223.78 million. During the same period in the prior year, the firm posted $0.41 EPS. Corcept Therapeutics’s revenue was up 13.8% on a year-over-year basis. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler decreased their price objective on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, August 1st. HC Wainwright reiterated a “buy” rating and set a $145.00 target price on shares of Corcept Therapeutics in a research report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, November 19th. Canaccord Genuity Group restated a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Finally, Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $135.25.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $85.06, for a total value of $1,701,200.00. Following the transaction, the insider directly owned 7,904 shares in the company, valued at $672,314.24. This represents a 71.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $85.08, for a total value of $3,403,200.00. Following the completion of the sale, the chief executive officer directly owned 2,781,370 shares in the company, valued at approximately $236,638,959.60. The trade was a 1.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 263,900 shares of company stock valued at $20,373,338. 20.80% of the stock is currently owned by company insiders.

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.