Cookson Peirce & Co. Inc. Cuts Stock Position in Corcept Therapeutics Incorporated $CORT

Cookson Peirce & Co. Inc. lowered its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 217,422 shares of the biotechnology company’s stock after selling 18,397 shares during the period. Cookson Peirce & Co. Inc. owned approximately 0.21% of Corcept Therapeutics worth $15,959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Corcept Therapeutics by 24.5% in the 1st quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company’s stock worth $10,670,000 after buying an additional 18,389 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Corcept Therapeutics by 883.0% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company’s stock worth $1,443,000 after purchasing an additional 17,660 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Corcept Therapeutics during the 1st quarter worth approximately $331,000. Robeco Institutional Asset Management B.V. purchased a new stake in Corcept Therapeutics during the 1st quarter worth approximately $355,000. Finally, Voya Investment Management LLC grew its position in Corcept Therapeutics by 5.3% during the 1st quarter. Voya Investment Management LLC now owns 234,648 shares of the biotechnology company’s stock worth $26,801,000 after purchasing an additional 11,898 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Trading Down 4.1%

Shares of NASDAQ CORT opened at $75.39 on Wednesday. Corcept Therapeutics Incorporated has a 12 month low of $42.01 and a 12 month high of $117.33. The company has a 50 day simple moving average of $76.18 and a two-hundred day simple moving average of $73.04. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 66.72 and a beta of 0.46.

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

Insider Activity

In related news, insider Sean Maduck sold 35,007 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $67.79, for a total value of $2,373,124.53. Following the completion of the transaction, the insider directly owned 7,681 shares in the company, valued at $520,694.99. The trade was a 82.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph Douglas Lyon sold 5,823 shares of the business’s stock in a transaction 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 completion of the transaction, the insider owned 10,066 shares of the company’s stock, valued at approximately $679,555.66. This represents a 36.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 292,451 shares of company stock valued at $21,850,930. 20.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler dropped their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, August 1st. HC Wainwright reissued a “buy” rating and set a $145.00 target price on shares of Corcept Therapeutics in a research report on Monday. Canaccord Genuity Group reissued a “buy” rating and set a $140.00 target price on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Finally, Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average 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.