Corcept Therapeutics Incorporated $CORT Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC decreased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,722,922 shares of the biotechnology company’s stock after selling 30,662 shares during the quarter. Corcept Therapeutics accounts for about 20.1% of Ingalls & Snyder LLC’s holdings, making the stock its largest holding. Ingalls & Snyder LLC owned 7.28% of Corcept Therapeutics worth $566,862,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CORT. Brooklyn Investment Group raised its holdings in Corcept Therapeutics by 99.5% in 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 during the period. USA Financial Formulas acquired a new position in Corcept Therapeutics in the 2nd quarter worth about $56,000. Farther Finance Advisors LLC raised its holdings in Corcept Therapeutics by 277.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock worth $67,000 after purchasing an additional 669 shares during the period. Covestor Ltd raised its holdings in Corcept Therapeutics by 1,741.2% in the 1st quarter. Covestor Ltd now owns 626 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 592 shares during the period. Finally, IFP Advisors Inc raised its holdings in Corcept Therapeutics by 1,150.8% in the 1st quarter. IFP Advisors Inc now owns 738 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 679 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total transaction of $3,403,200.00. Following the completion of the transaction, the chief executive officer directly owned 2,781,370 shares in the company, valued at $236,638,959.60. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph Douglas Lyon sold 5,823 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $67.51, for a total value of $393,110.73. Following the transaction, the insider owned 10,066 shares of the company’s stock, valued at approximately $679,555.66. This represents a 36.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 292,451 shares of company stock valued at $21,850,930. Corporate insiders own 20.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CORT shares. Wall Street Zen lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Friday. Zacks Research lowered Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. HC Wainwright restated a “buy” rating and issued a $145.00 price target on shares of Corcept Therapeutics in a research report on Monday, October 20th. Finally, Piper Sandler dropped their price target 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. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $135.25.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $72.52 on Friday. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 64.18 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 stock has a 50 day moving average of $76.23 and a 200 day moving average of $73.06.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The company had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. Analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

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.