Corcept Therapeutics Incorporated $CORT Holdings Trimmed by Aberdeen Group plc

Aberdeen Group plc trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 9.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 278,578 shares of the biotechnology company’s stock after selling 29,976 shares during the period. Aberdeen Group plc owned 0.26% of Corcept Therapeutics worth $20,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its position in Corcept Therapeutics by 99.5% during the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 186 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics during the 2nd quarter valued at $56,000. Farther Finance Advisors LLC grew its holdings in shares of Corcept Therapeutics by 277.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 669 shares in the last quarter. Covestor Ltd grew its holdings in shares of Corcept Therapeutics by 1,741.2% during the 1st quarter. Covestor Ltd now owns 626 shares of the biotechnology company’s stock valued at $72,000 after acquiring an additional 592 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Corcept Therapeutics by 1,150.8% during the 1st quarter. IFP Advisors Inc now owns 738 shares of the biotechnology company’s stock valued at $84,000 after acquiring an additional 679 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CORT has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Zacks Research cut shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Canaccord Genuity Group restated a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Finally, HC Wainwright restated a “buy” rating and set a $145.00 price target on shares of Corcept Therapeutics in a report on Friday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.25.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $71.53 on Tuesday. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 63.30 and a beta of 0.46. Corcept Therapeutics Incorporated has a fifty-two week low of $42.01 and a fifty-two week high of $117.33. The firm has a fifty day moving average price of $75.57 and a two-hundred day moving average price of $73.43.

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

Insider Activity

In other Corcept Therapeutics news, insider Sean Maduck sold 35,007 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the completion of the transaction, the insider owned 7,681 shares of the company’s stock, valued at $520,694.99. The trade was a 82.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Douglas Lyon sold 5,823 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $67.51, for a total transaction of $393,110.73. Following the transaction, the insider directly owned 10,066 shares of the company’s stock, valued at approximately $679,555.66. This represents a 36.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 304,610 shares of company stock worth $22,713,516 in the last 90 days. 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.