Brookwood Investment Group LLC Boosts Stake in Corcept Therapeutics Incorporated $CORT

Brookwood Investment Group LLC raised its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 54.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,366 shares of the biotechnology company’s stock after purchasing an additional 5,435 shares during the period. Brookwood Investment Group LLC’s holdings in Corcept Therapeutics were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Focus Partners Wealth raised its position 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 raised its position in Corcept Therapeutics by 1.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,951 shares of the biotechnology company’s stock valued at $730,000 after purchasing an additional 180 shares during the period. Brooklyn Investment Group raised its position in Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 186 shares during the period. Louisiana State Employees Retirement System raised its position in Corcept Therapeutics by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock valued at $3,237,000 after purchasing an additional 200 shares during the period. Finally, Concurrent Investment Advisors LLC raised its position in Corcept Therapeutics by 3.4% during the second quarter. Concurrent Investment Advisors LLC now owns 6,175 shares of the biotechnology company’s stock valued at $453,000 after purchasing an additional 205 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 2,781,370 shares of the company’s stock, valued at $236,638,959.60. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 5,823 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $67.51, for a total value of $393,110.73. Following the completion of the transaction, the insider directly owned 10,066 shares in the company, valued at approximately $679,555.66. This trade represents a 36.65% 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 ninety days. 20.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CORT. Zacks Research downgraded Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. HC Wainwright restated a “buy” rating and set a $145.00 price objective on shares of Corcept Therapeutics in a research report on Monday, October 20th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $140.00 target price on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Piper Sandler cut their target price on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

Corcept Therapeutics Stock Performance

CORT opened at $72.52 on Monday. Corcept Therapeutics Incorporated has a one year low of $42.01 and a one year high of $117.33. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 64.18 and a beta of 0.46. The stock’s 50 day moving average price is $76.23 and its 200-day moving average price is $73.06.

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