Corcept Therapeutics Incorporated $CORT Holdings Lowered by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Corcept stake by 46.5% in the third quarter, selling 204,591 shares and retaining 235,673 shares worth about $27.2 million.
• Corcept reported third-quarter revenue up 64% year over year to $340.5 million and EPS of $1.01, beating analyst estimates.
• Despite the earnings beat, the stock faced pressure over company guidance. Investors are also watching for the FDA’s December 17 decision on relacorilant.

Boston Trust Walden Corp cut its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 46.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,673 shares of the biotechnology company's stock after selling 204,591 shares during the quarter. Boston Trust Walden Corp owned 0.22% of Corcept Therapeutics worth $27,157,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CORT. Chicago Partners Investment Group LLC raised its stake in shares of Corcept Therapeutics by 7.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,352 shares of the biotechnology company's stock valued at $717,000 after purchasing an additional 575 shares during the period. Optimist Retirement Group LLC bought a new position in shares of Corcept Therapeutics during the third quarter worth about $445,000. Provenance Wealth Advisors LLC acquired a new stake in Corcept Therapeutics in the 3rd quarter valued at approximately $38,000. Bridge City Capital LLC raised its position in Corcept Therapeutics by 21.8% in the 3rd quarter. Bridge City Capital LLC now owns 65,530 shares of the biotechnology company's stock valued at $7,551,000 after buying an additional 11,707 shares during the last quarter. Finally, True Freedom Investing LLC bought a new stake in Corcept Therapeutics in the 3rd quarter valued at approximately $233,000. 93.61% of the stock is owned by institutional investors.

Key Corcept Therapeutics News

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Third-quarter revenue climbed 64% year over year to about $340.5 million, while earnings of $1.01 per share beat estimates. Higher Korlym sales and growing Lifyorli uptake contributed to the results. Article: CORT's Q3 Earnings Beat
• Positive Sentiment: Piper Sandler reaffirmed its “overweight” rating and raised its price target to $173 from $165. Article: Piper Sandler rating
• Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has outlined a long-term opportunity of $3 billion to $5 billion in Cushing’s revenue by 2030; both depend on regulatory and commercial success. Article: Relacorilant decision and revenue target
• Negative Sentiment: Shares have faced pressure despite the earnings beat as investors focused on company guidance. HC Wainwright also lowered its Q1 2027 EPS estimate to $0.60 from $0.74, although it kept a Buy rating and $165 price target. Article: Shares fall on guidance
• Negative Sentiment: Two insiders reported sizable sales: Roberto Vieira sold 8,333 shares, reducing his position by about 68%, while Sean Maduck sold shares in two transactions that cut his holdings by more than half. Insider sales can raise concerns, though they do not necessarily indicate a change in company prospects. Article: Corcept insider sale

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Joseph Lyon sold 9,190 shares of the firm's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $116.13, for a total value of $1,067,234.70. Following the completion of the sale, the insider directly owned 5,683 shares in the company, valued at approximately $659,966.79. This trade represents a 61.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 13,159 shares of the firm's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $82.25, for a total value of $1,082,327.75. Following the completion of the sale, the insider owned 9,938 shares of the company's stock, valued at approximately $817,400.50. This represents a 56.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 382,536 shares of company stock worth $43,406,554 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler restated an "overweight" rating and set a $173.00 price objective (up from $165.00) on shares of Corcept Therapeutics in a research note on Wednesday. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Truist Financial assumed coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They set a "buy" rating and a $164.00 target price on the stock. Wall Street Zen raised Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Finally, Zacks Research downgraded Corcept Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 27th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.50.

Corcept Therapeutics Trading Down 9.6%

Shares of NASDAQ:CORT opened at $71.63 on Friday. The firm has a 50 day moving average of $108.46 and a 200-day moving average of $75.47. The stock has a market capitalization of $7.84 billion, a PE ratio of 56.40 and a beta of 0.54. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $126.38.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.17. Corcept Therapeutics had a return on equity of 22.56% and a net margin of 16.53%. The company had revenue of $340.47 million for the quarter, compared to the consensus estimate of $339.12 million. During the same quarter last year, the business posted $0.16 EPS. Corcept Therapeutics's revenue for the quarter was up 64.0% on a year-over-year basis. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.83 EPS for the current fiscal year.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated NASDAQ: CORT is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company's research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept's primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing's syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.

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