Corcept Therapeutics Incorporated $CORT Shares Acquired by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. increased its stake in Corcept Therapeutics by 544.3%, owning 235,819 shares valued at approximately $26.9 million as of the latest SEC filing.
• Multiple institutional investors, including Jupiter Asset Management Ltd. and Invesco Ltd., have significantly boosted their holdings in Corcept, showcasing strong interest and confidence in the biotechnology company's growth potential.
• Corcept Therapeutics reported earnings of $0.29 per share, surpassing analysts' expectations, with revenue growth of 18.7% year-over-year, indicating robust financial performance despite a slight dip in stock value.

Cookson Peirce & Co. Inc. grew its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 544.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 235,819 shares of the biotechnology company's stock after purchasing an additional 199,216 shares during the period. Corcept Therapeutics comprises approximately 1.4% of Cookson Peirce & Co. Inc.'s holdings, making the stock its 26th largest holding. Cookson Peirce & Co. Inc. owned approximately 0.22% of Corcept Therapeutics worth $26,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in Corcept Therapeutics in the fourth quarter worth $40,000. Gen Wealth Partners Inc bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $67,000. MassMutual Private Wealth & Trust FSB lifted its stake in Corcept Therapeutics by 102.0% in the first 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 period. Covestor Ltd lifted its stake in Corcept Therapeutics by 1,741.2% in the first quarter. Covestor Ltd now owns 626 shares of the biotechnology company's stock worth $72,000 after acquiring an additional 592 shares during the period. Finally, IFP Advisors Inc grew its holdings in Corcept Therapeutics by 1,150.8% during 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 in the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

CORT traded down $1.5840 on Tuesday, hitting $70.1760. The company had a trading volume of 149,142 shares, compared to its average volume of 1,326,286. The stock has a fifty day moving average price of $71.24 and a 200-day moving average price of $69.36. 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 $7.39 billion, a price-to-earnings ratio of 62.15 and a beta of 0.20.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $199.40 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm's quarterly revenue 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 fiscal year.

Analysts Set New Price Targets

CORT has been the topic of several recent research reports. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Piper Sandler lowered their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Canaccord Genuity Group lowered 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. HC Wainwright lowered their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Wall Street Zen cut 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 MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $134.50.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,823 shares of Corcept Therapeutics stock in a transaction dated 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 in the company, valued at $679,555.66. The trade was a 36.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Guyer sold 35,007 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $71.77, for a total value of $2,512,452.39. Following the completion of the sale, the insider directly owned 5,487 shares of the company's stock, valued at approximately $393,801.99. This represents a 86.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 222,215 shares of company stock worth $16,311,201 over the last ninety days. 20.80% of the stock is currently 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.