Corcept Therapeutics (NASDAQ:CORT) CEO Joseph Belanoff Sells 26,198 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph Belanoff sold 26,198 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $50.07, for a total transaction of $1,311,733.86. Following the transaction, the chief executive officer directly owned 2,918,326 shares in the company, valued at approximately $146,120,582.82. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Corcept Therapeutics Stock Down 2.4%

Shares of Corcept Therapeutics stock opened at $37.60 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $117.33. The company has a fifty day moving average price of $37.53 and a 200 day moving average price of $60.69. The company has a current ratio of 2.92, a quick ratio of 2.85 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 45.85 and a beta of 0.29.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, February 24th. The biotechnology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. The company had revenue of $202.13 million for the quarter, compared to analysts’ expectations of $254.94 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in Corcept Therapeutics by 0.5% during the fourth quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock valued at $103,915,000 after acquiring an additional 15,656 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Corcept Therapeutics by 38.0% during the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after acquiring an additional 734,646 shares in the last quarter. Morgan Stanley grew its stake in shares of Corcept Therapeutics by 34.1% in the 4th quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock valued at $55,404,000 after purchasing an additional 405,081 shares during the period. AQR Capital Management LLC grew its position in Corcept Therapeutics by 546.9% in the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock valued at $125,264,000 after acquiring an additional 1,274,215 shares during the period. Finally, TD Asset Management Inc increased its position in shares of Corcept Therapeutics by 4.0% during the 4th quarter. TD Asset Management Inc now owns 994,844 shares of the biotechnology company’s stock worth $34,621,000 after purchasing an additional 38,708 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: FDA approval of Lifyorli (relacorilant) plus nab‑paclitaxel for platinum‑resistant ovarian cancer is a material commercial catalyst that triggered the earlier sharp rally; approval creates a new revenue pathway and is the primary reason investors re‑rated the stock this week. FDA approval report
• Positive Sentiment: Broker/analyst support: Wolfe Research upgraded CORT (from underperform to peer‑perform) and other brokers (Truist, Canaccord) have issued bullish/strong‑buy views or raised targets, which can sustain buying interest as the market models new sales upside. Wolfe Research upgrade
• Neutral Sentiment: Market structure/volatility: trading halts and large intraday prints accompanied the approval-driven move — expect continued high volume and price swings as investors reprice expectations for launch and uptake. Market reaction coverage
• Neutral Sentiment: Consensus/ratings mix: some outlets show a “moderate buy” brokerage consensus; analysts remain mixed on valuation as the market weighs launch potential vs. prior execution and study data. Broker consensus report
• Negative Sentiment: Legal risk: multiple law firms have filed shareholder alerts and class actions alleging that Corcept misled investors about regulatory issues and patent matters; these suits (and the referenced FDA rejection / federal court patent loss claims) create potential liability, discovery risk and distraction for management. Hagens Berman class‑action alert
• Negative Sentiment: Insider selling: a recent disclosed sale by an insider reduced holdings significantly; while not proof of negative outlook, such sales can weigh on sentiment when paired with litigation headlines. Insider sale filing
• Negative Sentiment: Analyst divergence / forecast cuts: some firms have tempered long‑term estimates or issued cautious notes (e.g., a pessimistic forecast from HC Wainwright in recent coverage), underscoring uncertainty around peak sales and reimbursement. HC Wainwright coverage

Analysts Set New Price Targets

A number of research firms have recently weighed in on CORT. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Wednesday. UBS Group started coverage on Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price target on the stock. Zacks Research cut shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday. Finally, HC Wainwright cut their target price on Corcept Therapeutics from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.67.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.