BI Asset Management Fondsmaeglerselskab A S Takes $9.51 Million Position in Corcept Therapeutics Incorporated $CORT

Key Points

• BI Asset Management Fondsmaeglerselskab A S acquired 83,227 shares of Corcept Therapeutics valued at approximately $9.5 million, representing 0.08% of the company.
• Insider transactions revealed significant sales, with executives disposing of over 222,215 shares valued at $16.3 million in the last quarter.
• Corcept Therapeutics reported a quarterly EPS of $0.29, beating estimates, alongside 18.7% year-on-year revenue growth.

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 83,227 shares of the biotechnology company's stock, valued at approximately $9,506,000. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.08% of Corcept Therapeutics at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CORT. Mariner LLC boosted its holdings in shares of Corcept Therapeutics by 13.6% in the fourth quarter. Mariner LLC now owns 13,362 shares of the biotechnology company's stock worth $673,000 after buying an additional 1,601 shares during the period. Guggenheim Capital LLC acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth about $281,000. Jump Financial LLC acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth about $718,000. Canada Pension Plan Investment Board acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth about $40,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Corcept Therapeutics by 17.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 104,734 shares of the biotechnology company's stock worth $5,271,000 after buying an additional 15,838 shares during the period. Institutional investors own 93.61% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on CORT. Piper Sandler decreased their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a report on Friday, August 1st. HC Wainwright decreased their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Canaccord Genuity Group reduced their price target on shares of Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $134.50.

Corcept Therapeutics Price Performance

CORT traded down $0.65 during midday trading on Friday, hitting $70.33. 866,233 shares of the company's stock traded hands, compared to its average volume of 840,055. The company has a market cap of $7.41 billion, a PE ratio of 62.24 and a beta of 0.20. The stock's fifty day simple moving average is $71.18 and its 200-day simple moving average is $69.43. Corcept Therapeutics Incorporated has a one year low of $33.34 and a one year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. The firm had revenue of $194.43 million for 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 company's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider Sean Maduck sold 35,007 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 7,681 shares of the company's stock, valued at approximately $520,694.99. This trade represents a 82.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Guyer sold 35,007 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $71.77, for a total transaction of $2,512,452.39. Following the transaction, the insider directly owned 5,487 shares in the company, valued at approximately $393,801.99. The trade was a 86.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,215 shares of company stock worth $16,311,201 in the last ninety days. 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.