Intech Investment Management LLC Boosts Stock Position in Corcept Therapeutics Incorporated $CORT

Key Points

• Intech Investment Management LLC increased its stake in Corcept Therapeutics by 28.1% in the first quarter, bringing its total holdings to 66,735 shares, valued at approximately $7.62 million.
• Analysts have mixed ratings on Corcept Therapeutics, with a consensus rating of "Buy" and an average price target of $135.25, although Piper Sandler recently lowered its price objective from $131.00 to $121.00.
• Corcept Therapeutics reported a quarterly EPS of $0.29, beating analysts' expectations, but its revenue of $194.43 million fell short of projections by $4.97 million.

Intech Investment Management LLC boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 28.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,735 shares of the biotechnology company's stock after purchasing an additional 14,628 shares during the period. Intech Investment Management LLC owned about 0.06% of Corcept Therapeutics worth $7,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Corcept Therapeutics by 3.7% in the first quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock valued at $453,729,000 after acquiring an additional 142,784 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 worth $243,708,000 after purchasing an additional 57,942 shares in the last quarter. Invesco Ltd. raised its stake in Corcept Therapeutics by 76.5% in 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 in the last quarter. Northern Trust Corp raised its stake 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 worth $116,733,000 after purchasing an additional 6,486 shares in the last quarter. Finally, Cerity Partners LLC increased 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 period. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded up $2.81 during trading on Wednesday, hitting $74.13. The stock had a trading volume of 258,584 shares, compared to its average volume of 1,253,779. The company has a market capitalization of $7.81 billion, a PE ratio of 65.72 and a beta of 0.29. The firm has a fifty day moving average of $70.72 and a two-hundred day moving average of $69.84. Corcept Therapeutics Incorporated has a 12 month low of $40.15 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. The company 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%. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. 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. On average, equities analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CORT shares. Piper Sandler decreased their price target on shares of 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 boosted their target price 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. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $135.25.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred 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 transaction, the insider directly owned 7,681 shares of the company's stock, valued at approximately $541,433.69. This trade represents a 72.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $72.45, for a total transaction of $159,390.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,215 shares of company stock valued at $15,572,699. Company insiders own 20.50% of the company's stock.

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.