BI Asset Management Fondsmaeglerselskab A S Buys Shares of 83,227 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 purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 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 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in Corcept Therapeutics by 3.7% during the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock valued at $453,729,000 after purchasing an additional 142,784 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Corcept Therapeutics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company's stock worth $243,708,000 after purchasing an additional 57,942 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Corcept Therapeutics by 12.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock valued at $69,381,000 after acquiring an additional 153,100 shares during the period. Invesco Ltd. grew its stake in Corcept Therapeutics by 76.5% in the first quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company's stock valued at $142,345,000 after acquiring an additional 540,101 shares during the period. Finally, Northern Trust Corp grew its stake in Corcept Therapeutics by 0.6% in the first quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company's stock valued at $116,733,000 after acquiring an additional 6,486 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

CORT stock traded down $0.8590 during mid-day trading on Monday, hitting $69.4710. 215,209 shares of the stock were exchanged, compared to its average volume of 1,309,842. The business has a fifty day moving average price of $71.18 and a 200 day moving average price of $69.44. Corcept Therapeutics Incorporated has a 12 month low of $33.34 and a 12 month high of $117.33. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 61.39 and a beta of 0.20.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 EPS 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 firm had revenue of $194.43 million for the quarter, compared to the consensus estimate of $199.40 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company's quarterly revenue was up 18.7% on a year-over-year basis. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

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 Monday, June 2nd. The stock was sold at an average price of $82.86, for a total value of $3,314,400.00. Following the transaction, the chief executive officer directly owned 2,901,985 shares in the company, valued at $240,458,477.10. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sean Maduck sold 35,007 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $67.79, for a total value of $2,373,124.53. Following the completion of the transaction, the insider directly owned 7,681 shares in the company, valued at approximately $520,694.99. This represents a 82.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,215 shares of company stock valued at $16,311,201. Corporate insiders own 20.80% of the company's stock.

Analyst Ratings Changes

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

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.