S&T Bank PA Sells 19,187 Shares of Corcept Therapeutics Incorporated $CORT

S&T Bank PA cut its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 13.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,108 shares of the biotechnology company’s stock after selling 19,187 shares during the period. Corcept Therapeutics accounts for about 2.8% of S&T Bank PA’s portfolio, making the stock its 3rd largest position. S&T Bank PA owned about 0.12% of Corcept Therapeutics worth $9,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Huntington National Bank increased its position in shares of Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 168 shares during the period. Focus Partners Wealth grew its holdings in Corcept Therapeutics by 0.5% in the first quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock valued at $3,797,000 after purchasing an additional 170 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Corcept Therapeutics by 1.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,951 shares of the biotechnology company’s stock worth $730,000 after acquiring an additional 180 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 186 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Corcept Therapeutics by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock worth $3,237,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $73.06 on Friday. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 64.66 and a beta of 0.43. The stock’s fifty day moving average price is $76.74 and its two-hundred day moving average price is $73.40. Corcept Therapeutics Incorporated has a 52-week low of $49.00 and a 52-week high of $117.33.

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Zacks Research lowered Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $145.00 price objective on shares of Corcept Therapeutics in a research note on Monday, October 20th. Four 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’s stock. According to MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $135.25.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $89.94, for a total value of $1,798,800.00. Following the transaction, the insider owned 5,287 shares of the company’s stock, valued at approximately $475,512.78. This trade represents a 79.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $70.53, for a total transaction of $2,821,200.00. Following the sale, the chief executive officer directly owned 2,821,370 shares of the company’s stock, valued at approximately $198,991,226.10. This trade represents a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 241,600 shares of company stock valued at $18,661,148. 20.80% of the stock is currently owned by company 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.