MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Holdings in Corcept Therapeutics Incorporated $CORT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Corcept Therapeutics by 22.4%, owning 56,353 shares worth approximately $6.44 million after acquiring an additional 10,320 shares in Q1.
• Insider trading activity included CEO Joseph K. Belanoff selling 40,000 shares at $70.53 each, reducing his ownership by 1.4% while insiders collectively sold 220,015 shares valued at $15.41 million over the last quarter.
• Corcept Therapeutics' stock has faced fluctuations, trading at $71.62 with a 52-week range between $34.87 and $117.33; earnings per share for the last quarter was reported at $0.29, exceeding estimates.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 22.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,353 shares of the biotechnology company's stock after buying an additional 10,320 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.05% of Corcept Therapeutics worth $6,437,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in Corcept Therapeutics by 269.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company's stock valued at $144,000 after buying an additional 2,086 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Corcept Therapeutics by 24.5% during the first quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company's stock valued at $10,670,000 after purchasing an additional 18,389 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Corcept Therapeutics during the first quarter valued at $331,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Corcept Therapeutics during the first quarter valued at $355,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Corcept Therapeutics during the first quarter valued at $384,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded up $1.79 during mid-day trading on Tuesday, reaching $71.32. 936,992 shares of the stock traded hands, compared to its average volume of 632,875. The stock has a market capitalization of $7.51 billion, a PE ratio of 63.12 and a beta of 0.29. Corcept Therapeutics Incorporated has a 12-month low of $38.68 and a 12-month high of $117.33. The business's 50-day moving average is $70.72 and its 200-day moving average is $69.84.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $194.43 million during 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 quarter in the prior year, the business earned $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CORT. Piper Sandler lowered their price target on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $137.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $135.25.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $70.49, for a total value of $1,409,800.00. Following the completion of the sale, the insider owned 5,487 shares in the company, valued at $386,778.63. This represents a 78.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $70.25, for a total value of $351,250.00. Following the completion of the sale, the insider owned 10,066 shares of the company's stock, valued at approximately $707,136.50. The trade was a 33.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,215 shares of company stock valued at $15,572,699. 20.50% of the stock is currently owned by corporate insiders.

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.