Coppell Advisory Solutions LLC Buys 14,590 Shares of Corcept Therapeutics Incorporated $CORT

Key Points

• Coppell Advisory Solutions LLC significantly increased its holdings in Corcept Therapeutics by 536.4% during the first quarter, acquiring an additional 14,590 shares, bringing their total to 17,310 shares valued at approximately $1,977,000.
• Corcept Therapeutics reported $0.29 earnings per share for the last quarter, exceeding analysts' expectations of $0.23, while the company’s revenue showed an 18.7% year-over-year increase.
• Insider sales included Sean Maduck and William Guyer, who sold significant portions of their shares at average prices of $67.79 and $71.77, respectively, resulting in a decrease of their holdings by 82.01% and 86.45%.

Coppell Advisory Solutions LLC lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 536.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,310 shares of the biotechnology company's stock after buying an additional 14,590 shares during the period. Coppell Advisory Solutions LLC's holdings in Corcept Therapeutics were worth $1,977,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CORT. Centiva Capital LP acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth $273,000. EP Wealth Advisors LLC increased its holdings in shares of Corcept Therapeutics by 7.3% during the fourth quarter. EP Wealth Advisors LLC now owns 7,000 shares of the biotechnology company's stock worth $353,000 after buying an additional 476 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Corcept Therapeutics by 48.5% during the fourth quarter. Deutsche Bank AG now owns 73,600 shares of the biotechnology company's stock worth $3,709,000 after buying an additional 24,051 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Corcept Therapeutics by 29.9% during the fourth quarter. Ensign Peak Advisors Inc now owns 47,929 shares of the biotechnology company's stock worth $2,415,000 after buying an additional 11,040 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Corcept Therapeutics by 2.1% during the fourth quarter. Focus Partners Wealth now owns 33,073 shares of the biotechnology company's stock worth $1,667,000 after buying an additional 675 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

NASDAQ CORT traded down $1.46 on Friday, reaching $72.87. The company had a trading volume of 664,160 shares, compared to its average volume of 626,559. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 64.49 and a beta of 0.29. The business has a 50 day moving average of $70.62 and a two-hundred day moving average of $69.65. Corcept Therapeutics Incorporated has a fifty-two week low of $35.87 and a fifty-two week high of $117.33.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $137.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday. Piper Sandler decreased their price objective on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Corcept Therapeutics has a consensus rating of "Buy" and an average price target of $135.25.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 40,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $70.53, for a total transaction of $2,821,200.00. Following the sale, the chief executive officer owned 2,821,370 shares of the company's stock, valued at approximately $198,991,226.10. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $70.49, for a total transaction of $1,409,800.00. Following the sale, the insider directly owned 7,681 shares in the company, valued at $541,433.69. This trade represents a 72.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,215 shares of company stock valued at $15,572,699. 20.80% of the stock is owned by corporate insiders.

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.