Oak Ridge Investments LLC Boosts Stock Position in Corcept Therapeutics Incorporated $CORT

Oak Ridge Investments LLC lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 13.6% in the second quarter, HoldingsChannel.com reports. The firm owned 23,323 shares of the biotechnology company’s stock after purchasing an additional 2,784 shares during the period. Oak Ridge Investments LLC’s holdings in Corcept Therapeutics were worth $1,712,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC boosted its holdings 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 worth $453,000 after purchasing an additional 205 shares during the period. Maryland State Retirement & Pension System lifted its holdings in Corcept Therapeutics by 18.7% in the second quarter. Maryland State Retirement & Pension System now owns 32,305 shares of the biotechnology company’s stock worth $2,371,000 after buying an additional 5,091 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Corcept Therapeutics by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock worth $3,237,000 after buying an additional 200 shares during the period. JSF Financial LLC purchased a new stake in Corcept Therapeutics in the second quarter worth about $1,056,000. Finally, QRG Capital Management Inc. lifted its holdings in Corcept Therapeutics by 14.3% in the second quarter. QRG Capital Management Inc. now owns 110,752 shares of the biotechnology company’s stock worth $8,129,000 after buying an additional 13,829 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CORT has been the subject of several research analyst reports. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. HC Wainwright restated a “buy” rating and issued a $145.00 price objective on shares of Corcept Therapeutics in a report on Friday. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Canaccord Genuity Group restated a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a report on Thursday, September 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.25.

Corcept Therapeutics Stock Performance

CORT stock opened at $73.96 on Friday. The firm has a 50 day moving average price of $75.57 and a 200-day moving average price of $73.19. Corcept Therapeutics Incorporated has a 52-week low of $42.01 and a 52-week high of $117.33. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 65.45 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The firm had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. During the same period last year, the business earned $0.32 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $72.45, for a total transaction of $159,390.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $85.06, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 304,610 shares of company stock valued at $22,713,516 over the last ninety days. Corporate insiders own 20.80% of the company’s stock.

About Corcept Therapeutics

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.