Jones Financial Companies Lllp Has $1.77 Million Position in Corcept Therapeutics Incorporated $CORT

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

A number of other large investors have also added to or reduced their stakes in the business. Parallel Advisors LLC raised its holdings in Corcept Therapeutics by 3.7% in the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock valued at $453,729,000 after buying an additional 142,784 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Corcept Therapeutics by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company's stock valued at $243,708,000 after buying an additional 57,942 shares during the last quarter. Invesco Ltd. raised its holdings in Corcept Therapeutics by 76.5% in the 1st quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company's stock valued at $142,345,000 after buying an additional 540,101 shares during the last quarter. Northern Trust Corp raised its holdings in Corcept Therapeutics by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company's stock valued at $116,733,000 after buying an additional 6,486 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in Corcept Therapeutics by 1.1% in the 1st quarter. Cerity Partners LLC now owns 614,794 shares of the biotechnology company's stock valued at $70,222,000 after buying an additional 6,848 shares during the last quarter. Institutional investors own 93.61% of the company's stock.

Wall Street Analyst Weigh In

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

Corcept Therapeutics Trading Down 4.6%

NASDAQ:CORT traded down $3.34 on Monday, reaching $69.53. 698,142 shares of the stock traded hands, compared to its average volume of 1,261,457. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 61.53 and a beta of 0.29. The company's 50 day moving average is $70.62 and its 200-day moving average is $69.76. Corcept Therapeutics Incorporated has a 1-year low of $37.82 and a 1-year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. The business had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company'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 firm posted $0.32 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 2nd. The shares were 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 7,681 shares in the company, valued at $541,433.69. The trade was a 72.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics 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 completion of the sale, the chief executive officer owned 2,821,370 shares of the company's stock, valued at $198,991,226.10. This represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,215 shares of company stock worth $15,572,699 over the last ninety days. 20.80% of the stock is owned by company 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.