Jupiter Asset Management Ltd. Decreases Stock Holdings in Corcept Therapeutics Incorporated $CORT

Jupiter Asset Management Ltd. cut its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 601,394 shares of the biotechnology company’s stock after selling 2,509 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.57% of Corcept Therapeutics worth $44,142,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. grew its position in Corcept Therapeutics by 24.5% during the 1st quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company’s stock worth $10,670,000 after purchasing an additional 18,389 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Corcept Therapeutics by 883.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company’s stock worth $1,443,000 after buying an additional 17,660 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Corcept Therapeutics by 5.3% during the first quarter. Voya Investment Management LLC now owns 234,648 shares of the biotechnology company’s stock worth $26,801,000 after buying an additional 11,898 shares during the period. Iron Gate Global Advisors LLC purchased a new stake in shares of Corcept Therapeutics during the first quarter valued at $400,000. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of Corcept Therapeutics by 299.0% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 150,906 shares of the biotechnology company’s stock valued at $11,076,000 after acquiring an additional 113,088 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $79.01 on Wednesday. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 69.92 and a beta of 0.43. The firm’s 50 day simple moving average is $77.09 and its 200-day simple moving average is $73.64. Corcept Therapeutics Incorporated has a 12 month low of $49.00 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results 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 analyst estimates of $223.78 million. During the same quarter in the prior year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Friday, October 10th. The shares were sold at an average price of $87.54, for a total transaction of $192,588.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $73.99, for a total transaction of $1,479,800.00. Following the sale, the insider directly owned 7,904 shares of the company’s stock, valued at $584,816.96. This represents a 71.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 259,400 shares of company stock valued at $20,009,288. 20.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on CORT shares. Piper Sandler lowered their price target on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. HC Wainwright restated a “buy” rating and issued a $145.00 price objective on shares of Corcept Therapeutics in a research note 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 report on Thursday, September 25th. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

Corcept Therapeutics Company 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.