Yousif Capital Management LLC Grows Stock Holdings in Corcept Therapeutics Incorporated $CORT

Yousif Capital Management LLC raised its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,898 shares of the biotechnology company’s stock after buying an additional 697 shares during the quarter. Yousif Capital Management LLC’s holdings in Corcept Therapeutics were worth $2,048,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Focus Partners Wealth lifted its position in shares of Corcept Therapeutics by 0.5% during the first quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock valued at $3,797,000 after buying an additional 170 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 186 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Corcept Therapeutics by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock valued at $3,237,000 after buying an additional 200 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Corcept Therapeutics by 3.4% during the second quarter. Concurrent Investment Advisors LLC now owns 6,175 shares of the biotechnology company’s stock valued at $453,000 after buying an additional 205 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Corcept Therapeutics by 3.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company’s stock valued at $909,000 after buying an additional 230 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Down 1.0%

Shares of NASDAQ:CORT opened at $78.69 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $42.01 and a twelve month high of $117.33. The company’s 50 day moving average is $76.01 and its 200 day moving average is $73.04. The company has a market cap of $8.29 billion, a PE ratio of 69.64 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly 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 company had revenue of $194.43 million for the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. Corcept Therapeutics’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CORT has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Piper Sandler cut their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a report on Friday, August 1st. HC Wainwright restated a “buy” rating and set a $145.00 price objective on shares of Corcept Therapeutics in a report on Friday, October 10th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $140.00 price objective on shares of Corcept Therapeutics in a report on Thursday, September 25th. Four 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $135.25.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 35,007 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the transaction, the insider owned 7,681 shares in the company, valued at $520,694.99. This trade represents a 82.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $85.08, for a total value of $3,403,200.00. Following the transaction, the chief executive officer owned 2,781,370 shares in the company, valued at $236,638,959.60. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 292,451 shares of company stock worth $21,850,930. Corporate insiders own 20.80% of the company’s stock.

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.