Corcept Therapeutics Incorporated $CORT Shares Bought by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp significantly increased its holdings in Corcept Therapeutics by 11,630.3% during the first quarter, owning a total of 15,484 shares valued at approximately $1.77 million.
• Corcept Therapeutics reported earnings of $0.29 per share for the latest quarter, beating estimates and demonstrating an 18.7% year-over-year revenue growth, totaling $194.43 million.
• Analysts have given Corcept Therapeutics an average rating of "Buy", with target prices ranging from $121.00 to $140.00, indicating positive market sentiment towards the stock.

Jones Financial Companies Lllp lifted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 11,630.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,484 shares of the biotechnology company's stock after purchasing an additional 15,352 shares during the period. Jones Financial Companies Lllp's holdings in Corcept Therapeutics were worth $1,769,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CORT. Brooklyn Investment Group grew its holdings in shares of Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock worth $43,000 after purchasing an additional 186 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 purchasing an additional 313 shares during the last quarter. Covestor Ltd grew its holdings in shares of 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 purchasing an additional 592 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Corcept Therapeutics by 1,150.8% in the first quarter. IFP Advisors Inc now owns 738 shares of the biotechnology company's stock worth $84,000 after purchasing an additional 679 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of Corcept Therapeutics in the fourth quarter worth about $104,000. 93.61% of the stock is currently owned by institutional investors.

Insider Activity at Corcept Therapeutics

In related news, insider Sean Maduck sold 35,007 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.79, for a total value of $2,373,124.53. Following the completion of the transaction, the insider directly owned 7,681 shares of the company's stock, valued at $520,694.99. This trade represents a 82.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,823 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.51, for a total transaction of $393,110.73. Following the completion of the transaction, the insider directly owned 10,066 shares of the company's stock, valued at $679,555.66. The trade was a 36.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,215 shares of company stock valued at $15,572,699. Company insiders own 20.50% of the company's stock.

Corcept Therapeutics Price Performance

Shares of CORT stock traded up $1.82 during mid-day trading on Wednesday, hitting $73.14. 136,177 shares of the stock traded hands, compared to its average volume of 1,253,106. The stock has a market cap of $7.71 billion, a P/E ratio of 64.89 and a beta of 0.29. The stock's fifty day moving average is $70.72 and its two-hundred day moving average is $69.84. Corcept Therapeutics Incorporated has a 52-week low of $40.15 and a 52-week high of $117.33.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CORT. 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, September 10th. Piper Sandler lowered their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus 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.