Corcept Therapeutics Incorporated $CORT Stock Holdings Lessened by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 53.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 46,360 shares of the biotechnology company’s stock after selling 53,100 shares during the period. Lisanti Capital Growth LLC’s holdings in Corcept Therapeutics were worth $3,403,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. boosted its position in Corcept Therapeutics by 24.5% during the 1st quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company’s stock worth $10,670,000 after acquiring an additional 18,389 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Corcept Therapeutics by 883.0% in the second 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 in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Corcept Therapeutics by 5.3% during the first 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 period. Iron Gate Global Advisors LLC acquired a new stake in shares of Corcept Therapeutics during the first quarter worth approximately $400,000. Finally, Emerald Mutual Fund Advisers Trust grew its position in Corcept Therapeutics by 299.0% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 150,906 shares of the biotechnology company’s stock valued at $11,076,000 after purchasing an additional 113,088 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CORT has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $145.00 target price on shares of Corcept Therapeutics in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Canaccord Genuity Group restated a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Zacks Research downgraded Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Finally, Piper Sandler reduced their price target on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, August 1st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $135.25.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $73.72 on Friday. The stock’s 50 day simple moving average is $76.82 and its 200 day simple moving average is $73.54. Corcept Therapeutics Incorporated has a twelve month low of $49.00 and a twelve month high of $117.33. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 65.24 and a beta of 0.43.

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

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $87.54, for a total transaction of $192,588.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider William Guyer sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $75.36, for a total value of $1,507,200.00. Following the transaction, the insider owned 5,287 shares of the company’s stock, valued at $398,428.32. The trade was a 79.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 261,600 shares of company stock valued at $20,168,348. 20.80% of the stock is owned by corporate insiders.

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.