Joseph Belanoff Sells 28,782 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph Belanoff sold 28,782 shares of Corcept Therapeutics stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $74.77, for a total transaction of $2,152,030.14. Following the sale, the chief executive officer owned 2,741,370 shares of the company’s stock, valued at approximately $204,972,234.90. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $73.06 on Friday. The firm has a market cap of $7.70 billion, a P/E ratio of 64.66 and a beta of 0.43. Corcept Therapeutics Incorporated has a 1 year low of $49.00 and a 1 year high of $117.33. The firm’s 50 day moving average price is $76.74 and its 200 day moving average price is $73.40.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly 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 business had revenue of $207.64 million for the quarter, compared to analysts’ expectations of $223.78 million. During the same period in the prior year, the company earned $0.41 EPS. The company’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. As a group, equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CORT. HC Wainwright reiterated a “buy” rating and issued a $145.00 price target on shares of Corcept Therapeutics in a report on Monday, October 20th. Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Piper Sandler reduced their price objective on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $140.00 price target 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in Corcept Therapeutics by 24.5% in the first quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company’s stock valued at $10,670,000 after acquiring an additional 18,389 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Corcept Therapeutics by 883.0% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company’s stock worth $1,443,000 after purchasing an additional 17,660 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Corcept Therapeutics by 5.3% in the 1st quarter. Voya Investment Management LLC now owns 234,648 shares of the biotechnology company’s stock valued at $26,801,000 after purchasing an additional 11,898 shares in the last quarter. Iron Gate Global Advisors LLC acquired a new stake in shares of Corcept Therapeutics in the 1st quarter valued at about $400,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Corcept Therapeutics by 22.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,353 shares of the biotechnology company’s stock worth $6,437,000 after purchasing an additional 10,320 shares during the last quarter. Institutional investors and hedge funds own 93.61% 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.