Bank of New York Mellon Corp Buys 55,629 Shares of Corcept Therapeutics Incorporated $CORT

Bank of New York Mellon Corp increased its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 638,722 shares of the biotechnology company’s stock after buying an additional 55,629 shares during the quarter. Bank of New York Mellon Corp’s holdings in Corcept Therapeutics were worth $46,882,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CORT. TD Asset Management Inc acquired a new position in Corcept Therapeutics during the second quarter worth $60,179,000. Jupiter Asset Management Ltd. grew its holdings in shares of 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 worth $68,978,000 after purchasing an additional 596,606 shares during the last quarter. Invesco Ltd. increased 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 bought a new position in Corcept Therapeutics during the 1st quarter valued at about $35,580,000. Finally, Driehaus Capital Management LLC acquired a new position in Corcept Therapeutics in the first quarter valued at about $29,657,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Up 4.7%

Shares of CORT opened at $79.01 on Wednesday. The stock’s fifty day simple moving average is $77.09 and its 200-day simple moving average is $73.64. The firm has a market capitalization of $8.31 billion, a PE ratio of 69.92 and a beta of 0.43. Corcept Therapeutics Incorporated has a 12-month low of $49.00 and a 12-month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 EPS 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 during the quarter, compared to analyst estimates of $223.78 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 13.8% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $73.99, for a total transaction of $1,479,800.00. Following the completion of the sale, the insider owned 7,904 shares of the company’s stock, valued at approximately $584,816.96. The trade was a 71.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Guyer sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $75.36, for a total transaction of $1,507,200.00. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 259,400 shares of company stock valued at $20,009,288 over the last 90 days. Company insiders own 20.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $145.00 price objective on shares of Corcept Therapeutics in a report on Monday, October 20th. Piper Sandler cut their price objective on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. Wall Street Zen lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.25.

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.