Checkpoint Capital L.P. Takes $571,000 Position in Corcept Therapeutics Incorporated $CORT

Key Points

• Checkpoint Capital L.P. acquired a new stake valued at approximately $571,000 in Corcept Therapeutics, buying 5,000 shares, which now represent about 0.3% of their investment portfolio.
• Corcept Therapeutics reported a quarterly earnings per share of $0.29, beating analyst expectations of $0.23, although their revenue of $194.43 million was below the forecast of $199.40 million.
• Insider trading revealed significant sales, with one insider selling over 35,000 shares, indicating a notable decrease in their ownership position by 82.01%.

Checkpoint Capital L.P. bought a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,000 shares of the biotechnology company's stock, valued at approximately $571,000. Corcept Therapeutics comprises about 0.3% of Checkpoint Capital L.P.'s investment portfolio, making the stock its 12th biggest holding.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group increased 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 acquiring an additional 186 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Corcept Therapeutics by 102.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 313 shares during the last quarter. Covestor Ltd increased 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 acquiring an additional 592 shares during the last quarter. IFP Advisors Inc increased 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 acquiring an additional 679 shares during the last quarter. Finally, Gen Wealth Partners Inc bought a new position in Corcept Therapeutics in the 4th quarter worth about $67,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Down 0.1%

Shares of CORT opened at $71.34 on Thursday. The company has a market cap of $7.52 billion, a PE ratio of 63.13 and a beta of 0.29. The stock has a 50-day moving average price of $70.75 and a 200-day moving average price of $69.45. Corcept Therapeutics Incorporated has a 12-month low of $33.34 and a 12-month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. The company had revenue of $194.43 million for the quarter, compared to analysts' expectations of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.Corcept Therapeutics's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Canaccord Genuity Group cut their target price on Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Piper Sandler cut their target price on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Corcept Therapeutics presently has a consensus rating of "Buy" and an average price target of $134.50.

Insider Activity at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 5,823 shares of the firm's stock in a transaction dated 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 trade represents a 36.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sean Maduck sold 35,007 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $67.79, for a total value of $2,373,124.53. Following 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. Insiders sold a total of 157,215 shares of company stock worth $11,025,001 in the last quarter. 20.50% of the stock is owned by company insiders.

Corcept Therapeutics Company 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.

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