Corcept Therapeutics Incorporated $CORT Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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. lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 22.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,353 shares of the biotechnology company's stock after purchasing an additional 10,320 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of Corcept Therapeutics worth $6,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 3.7% during the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock worth $453,729,000 after purchasing an additional 142,784 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Corcept Therapeutics by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company's stock worth $243,708,000 after purchasing an additional 57,942 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Corcept Therapeutics by 76.5% during the 1st quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company's stock worth $142,345,000 after purchasing an additional 540,101 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Corcept Therapeutics by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company's stock worth $116,733,000 after purchasing an additional 6,486 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Corcept Therapeutics by 1.1% during the 1st quarter. Cerity Partners LLC now owns 614,794 shares of the biotechnology company's stock worth $70,222,000 after purchasing an additional 6,848 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $70.53, for a total value of $2,821,200.00. Following the sale, the chief executive officer owned 2,821,370 shares of the company's stock, valued at $198,991,226.10. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Douglas Lyon sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $70.25, for a total value of $351,250.00. Following the completion of the sale, the insider directly owned 10,066 shares in the company, 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. Insiders have sold 220,015 shares of company stock valued at $15,413,309 over the last quarter. 20.80% of the stock is owned by corporate insiders.

Corcept Therapeutics Stock Down 0.2%

Shares of NASDAQ CORT opened at $71.62 on Thursday. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 63.38 and a beta of 0.29. Corcept Therapeutics Incorporated has a 52-week low of $34.87 and a 52-week high of $117.33. The business's 50 day moving average is $70.58 and its two-hundred day moving average is $69.48.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share (EPS) 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 analyst estimates of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The firm's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $137.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $135.25.

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.

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