Cookson Peirce & Co. Inc. Reduces Stock Holdings in Corcept Therapeutics Incorporated $CORT

Cookson Peirce & Co. Inc. lowered its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 217,422 shares of the biotechnology company’s stock after selling 18,397 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Corcept Therapeutics were worth $15,959,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. TD Asset Management Inc purchased a new position in Corcept Therapeutics in the second quarter valued at approximately $60,179,000. Jupiter Asset Management Ltd. grew its position in Corcept Therapeutics by 8,176.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company’s stock valued at $68,978,000 after buying an additional 596,606 shares during the last quarter. Invesco Ltd. boosted its position in shares of Corcept Therapeutics by 76.5% during the 1st quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company’s stock worth $142,345,000 after purchasing an additional 540,101 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Corcept Therapeutics during the 1st quarter worth $35,580,000. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Corcept Therapeutics during the 1st quarter worth $29,657,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $75.39 on Wednesday. Corcept Therapeutics Incorporated has a 1-year low of $42.01 and a 1-year high of $117.33. The business’s fifty day moving average price is $76.18 and its two-hundred day moving average price is $73.04. The firm has a market capitalization of $7.94 billion, a PE ratio of 66.72 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 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 company had revenue of $194.43 million for the quarter, compared to analyst estimates of $199.40 million. During the same period last year, the company earned $0.32 earnings per share. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $145.00 target price on shares of Corcept Therapeutics in a research note on Monday. Zacks Research cut Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler cut their target price on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, August 1st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.25.

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $85.06, for a total value of $1,701,200.00. Following the sale, the insider directly owned 7,904 shares of the company’s stock, valued at $672,314.24. This trade represents a 71.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 292,451 shares of company stock worth $21,850,930. Corporate insiders own 20.50% of the company’s stock.

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.