Corcept Therapeutics Incorporated $CORT Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,175 shares of the biotechnology company’s stock after purchasing an additional 205 shares during the period. Concurrent Investment Advisors LLC’s holdings in Corcept Therapeutics were worth $453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Corcept Therapeutics by 13.7% during the first quarter. GAMMA Investing LLC now owns 3,407 shares of the biotechnology company’s stock worth $389,000 after purchasing an additional 411 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Corcept Therapeutics by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company’s stock valued at $909,000 after buying an additional 230 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Corcept Therapeutics during the 1st quarter worth $580,000. Oppenheimer & Co. Inc. lifted its position in Corcept Therapeutics by 39.0% in the first quarter. Oppenheimer & Co. Inc. now owns 22,246 shares of the biotechnology company’s stock valued at $2,541,000 after acquiring an additional 6,246 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Corcept Therapeutics in the first quarter valued at $384,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $78.69 on Friday. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 69.64 and a beta of 0.46. The firm’s fifty day moving average price is $76.01 and its 200 day moving average price is $73.04. Corcept Therapeutics Incorporated has a 1-year low of $42.01 and a 1-year high of $117.33.

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

Wall Street Analysts Forecast Growth

CORT has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $145.00 target price on shares of Corcept Therapeutics in a research report on Friday, October 10th. Zacks Research cut shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. Four 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. Based on data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

Insiders Place Their Bets

In related news, insider William Guyer sold 35,007 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $71.77, for a total transaction of $2,512,452.39. Following the transaction, the insider owned 5,487 shares of the company’s stock, valued at $393,801.99. This represents a 86.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Douglas Lyon sold 5,823 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $67.51, for a total value of $393,110.73. Following the completion of the sale, the insider directly owned 10,066 shares of the company’s stock, 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. In the last quarter, insiders sold 292,451 shares of company stock valued at $21,850,930. Corporate insiders own 20.80% of the company’s stock.

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.