Vise Technologies Inc. Makes New Investment in Corcept Therapeutics Incorporated $CORT

Vise Technologies Inc. purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,694 shares of the biotechnology company’s stock, valued at approximately $271,000.

Several other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc purchased a new stake in Corcept Therapeutics in the second quarter worth approximately $60,179,000. Jupiter Asset Management Ltd. raised its stake in shares of Corcept Therapeutics by 8,176.0% during the first quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company’s stock worth $68,978,000 after acquiring an additional 596,606 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Corcept Therapeutics by 76.5% in the 1st quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company’s stock worth $142,345,000 after acquiring an additional 540,101 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Corcept Therapeutics in the 1st quarter valued at $35,580,000. Finally, Driehaus Capital Management LLC bought a new position in shares of Corcept Therapeutics during the 1st quarter valued at $29,657,000. 93.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $87.54, for a total value of $192,588.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $73.65, for a total transaction of $368,250.00. Following the completion of the transaction, the insider owned 10,277 shares of the company’s stock, valued at approximately $756,901.05. The trade was a 32.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 259,400 shares of company stock valued at $20,009,288 over the last 90 days. 20.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CORT. Piper Sandler lowered their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $145.00 price target on shares of Corcept Therapeutics in a research report on Monday, October 20th. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $135.25.

Corcept Therapeutics Trading Down 0.6%

Shares of NASDAQ CORT opened at $75.12 on Tuesday. The firm has a fifty day simple moving average of $77.56 and a two-hundred day simple moving average of $73.76. The firm has a market capitalization of $7.90 billion, a PE ratio of 66.48 and a beta of 0.43. Corcept Therapeutics Incorporated has a 12 month low of $49.00 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The firm had revenue of $207.64 million for the quarter, compared to analysts’ expectations of $223.78 million. During the same quarter last year, the company posted $0.41 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

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.