Corcept Therapeutics Incorporated $CORT Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 186,471 shares of the biotechnology company’s stock after selling 14,930 shares during the period. Rhumbline Advisers’ holdings in Corcept Therapeutics were worth $13,687,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Corcept Therapeutics by 5.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,259 shares of the biotechnology company’s stock worth $1,971,000 after acquiring an additional 851 shares during the period. LPL Financial LLC increased its position in Corcept Therapeutics by 2.5% during the first quarter. LPL Financial LLC now owns 62,184 shares of the biotechnology company’s stock worth $7,103,000 after purchasing an additional 1,502 shares during the last quarter. Mackenzie Financial Corp raised its stake in Corcept Therapeutics by 128.0% during the first quarter. Mackenzie Financial Corp now owns 14,155 shares of the biotechnology company’s stock worth $1,617,000 after purchasing an additional 7,948 shares during the period. Natixis Advisors LLC boosted its holdings in Corcept Therapeutics by 23.7% in the 1st quarter. Natixis Advisors LLC now owns 39,730 shares of the biotechnology company’s stock valued at $4,538,000 after purchasing an additional 7,607 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake 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. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Up 0.3%

CORT stock opened at $80.02 on Friday. The business’s fifty day moving average price is $78.25 and its 200 day moving average price is $74.15. Corcept Therapeutics Incorporated has a 12-month low of $49.00 and a 12-month high of $117.33. The company has a market capitalization of $8.42 billion, a PE ratio of 70.81 and a beta of 0.43.

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

Insider Activity at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the company’s 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 approximately $672,314.24. This 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 can be accessed through the SEC website. Also, insider William Guyer sold 20,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $70.49, for a total value of $1,409,800.00. Following the completion of the sale, the insider owned 5,487 shares in the company, valued at approximately $386,778.63. The trade was a 78.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 263,900 shares of company stock worth $20,373,338. Corporate insiders own 20.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CORT. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, November 19th. HC Wainwright reiterated a “buy” rating and set a $145.00 price target on shares of Corcept Therapeutics in a report on Tuesday, November 25th. Wolfe Research began coverage on Corcept Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Corcept Therapeutics currently has an average rating of “Hold” and a consensus 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.