Catalyst Capital Advisors LLC Decreases Stock Holdings in Corcept Therapeutics Incorporated $CORT

Catalyst Capital Advisors LLC cut its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 5.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 18,100 shares of the biotechnology company’s stock after selling 1,100 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Corcept Therapeutics were worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Focus Partners Wealth increased its holdings in Corcept Therapeutics by 0.5% during the first quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock worth $3,797,000 after buying an additional 170 shares during the last quarter. 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 buying an additional 186 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Corcept Therapeutics by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock worth $3,237,000 after buying an additional 200 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in Corcept Therapeutics by 3.4% in the second quarter. Concurrent Investment Advisors LLC now owns 6,175 shares of the biotechnology company’s stock worth $453,000 after buying an additional 205 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Corcept Therapeutics by 3.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company’s stock worth $909,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 35,007 shares of the business’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 value of $2,373,124.53. Following the completion of the transaction, the insider owned 7,681 shares of the company’s stock, valued at $520,694.99. The trade was a 82.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total transaction of $3,403,200.00. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 292,451 shares of company stock worth $21,850,930 in the last 90 days. 20.80% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Trading Down 0.9%

Shares of NASDAQ:CORT opened at $72.98 on Friday. The company has a 50 day moving average of $76.22 and a 200 day moving average of $73.03. The stock has a market cap of $7.69 billion, a P/E ratio of 64.58 and a beta of 0.46. Corcept Therapeutics Incorporated has a 12 month low of $42.01 and a 12 month high of $117.33.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CORT. Canaccord Genuity Group restated a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $145.00 price objective on shares of Corcept Therapeutics in a research note on Monday. Four 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.