Oak Ridge Investments LLC Raises Position in Corcept Therapeutics Incorporated $CORT

Oak Ridge Investments LLC increased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 13.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,323 shares of the biotechnology company’s stock after buying an additional 2,784 shares during the period. Oak Ridge Investments LLC’s holdings in Corcept Therapeutics were worth $1,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CORT. Jupiter Asset Management Ltd. raised its position in shares of Corcept Therapeutics by 8,176.0% in the first quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company’s stock worth $68,978,000 after buying an additional 596,606 shares in the last quarter. Invesco Ltd. raised its position in shares of Corcept Therapeutics by 76.5% in the first quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company’s stock worth $142,345,000 after buying an additional 540,101 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Corcept Therapeutics in the first quarter worth $35,580,000. Driehaus Capital Management LLC purchased a new stake in shares of Corcept Therapeutics in the first quarter worth $29,657,000. Finally, Cookson Peirce & Co. Inc. raised its position in shares of Corcept Therapeutics by 544.3% in the first quarter. Cookson Peirce & Co. Inc. now owns 235,819 shares of the biotechnology company’s stock worth $26,935,000 after buying an additional 199,216 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Trading Down 16.3%

Shares of NASDAQ:CORT opened at $73.96 on Friday. The stock’s 50-day moving average price is $75.57 and its 200-day moving average price is $73.19. Corcept Therapeutics Incorporated has a 12-month low of $42.01 and a 12-month high of $117.33. The stock has a market capitalization of $7.79 billion, a P/E ratio of 65.45 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 earnings per share (EPS) 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 firm had revenue of $194.43 million for the quarter, compared to analysts’ expectations of $199.40 million. During the same period last year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Zacks Research cut Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Canaccord Genuity Group reissued a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Wednesday. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. Finally, Piper Sandler reduced their target price on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Five investment 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.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $135.25.

Insider Buying and Selling

In other news, insider Joseph Douglas Lyon sold 5,823 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $67.51, for a total transaction of $393,110.73. Following the transaction, the insider directly owned 10,066 shares of the company’s stock, valued at approximately $679,555.66. This trade represents a 36.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Guyer sold 35,007 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $71.77, for a total value of $2,512,452.39. Following the transaction, the insider directly owned 5,487 shares in the company, valued at $393,801.99. This trade represents a 86.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,610 shares of company stock valued at $22,713,516 over the last three months. 20.80% of the stock is owned by corporate insiders.

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.