QRG Capital Management Inc. Purchases 13,829 Shares of Corcept Therapeutics Incorporated $CORT

QRG Capital Management Inc. boosted its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 14.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,752 shares of the biotechnology company’s stock after acquiring an additional 13,829 shares during the period. QRG Capital Management Inc.’s holdings in Corcept Therapeutics were worth $8,129,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group raised its position in shares of Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 186 shares during the period. Covestor Ltd raised its holdings in Corcept Therapeutics by 1,741.2% during the first quarter. Covestor Ltd now owns 626 shares of the biotechnology company’s stock worth $72,000 after buying an additional 592 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Corcept Therapeutics by 1,150.8% in the first quarter. IFP Advisors Inc now owns 738 shares of the biotechnology company’s stock valued at $84,000 after buying an additional 679 shares in the last quarter. USA Financial Formulas bought a new position in shares of Corcept Therapeutics in the second quarter valued at $56,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Corcept Therapeutics by 277.6% during the second quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock valued at $67,000 after buying an additional 669 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insiders Place Their Bets

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $85.08, for a total value of $3,403,200.00. Following the completion of the transaction, the chief executive officer directly owned 2,781,370 shares of the company’s stock, valued at $236,638,959.60. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $72.45, for a total transaction of $159,390.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,810 shares of company stock worth $21,071,092. Company insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Saturday, September 27th. Canaccord Genuity Group reissued a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. 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. Finally, Zacks Research cut Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.25.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $88.15 on Monday. Corcept Therapeutics Incorporated has a 52-week low of $42.01 and a 52-week high of $117.33. The stock’s 50-day simple moving average is $73.82 and its 200 day simple moving average is $72.33. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 78.01 and a beta of 0.46.

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

About Corcept Therapeutics

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.