TD Asset Management Inc Purchases Shares of 819,882 Corcept Therapeutics Incorporated $CORT

TD Asset Management Inc acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 819,882 shares of the biotechnology company’s stock, valued at approximately $60,179,000. TD Asset Management Inc owned approximately 0.77% of Corcept Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CORT. Brooklyn Investment Group increased its position in Corcept Therapeutics by 99.5% in 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 last quarter. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics in the 2nd quarter worth $56,000. Farther Finance Advisors LLC grew its stake in shares of Corcept Therapeutics by 277.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock worth $67,000 after buying an additional 669 shares in the last quarter. Covestor Ltd raised its position in shares of Corcept Therapeutics by 1,741.2% during the 1st quarter. Covestor Ltd now owns 626 shares of the biotechnology company’s stock valued at $72,000 after buying an additional 592 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Corcept Therapeutics by 1,150.8% during the 1st 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. 93.61% of the stock is currently owned by institutional investors.

Insider Activity at Corcept Therapeutics

In other news, insider Sean Maduck sold 35,007 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the transaction, the insider directly owned 7,681 shares of the company’s stock, valued at approximately $520,694.99. This trade represents a 82.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph Douglas Lyon sold 5,823 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.51, for a total transaction of $393,110.73. Following the sale, the insider directly owned 10,066 shares of the company’s stock, valued at $679,555.66. This represents a 36.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,624 shares of company stock valued at $21,937,068 over the last 90 days. 20.80% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Up 6.5%

CORT opened at $76.81 on Thursday. The business has a fifty day moving average of $75.73 and a 200 day moving average of $73.44. The stock has a market cap of $8.09 billion, a P/E ratio of 67.97 and a beta of 0.46. Corcept Therapeutics Incorporated has a 52-week low of $42.01 and a 52-week high of $117.33.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $145.00 price target on shares of Corcept Therapeutics in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Piper Sandler decreased their price target on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a report on Friday, August 1st. Zacks Research downgraded Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $140.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

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.