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

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

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded down $3.34 on Monday, hitting $69.53. 698,142 shares of the company's stock were exchanged, compared to its average volume of 1,261,457. The business's 50 day simple moving average is $70.62 and its two-hundred day simple moving average is $69.76. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 61.53 and a beta of 0.29. Corcept Therapeutics Incorporated has a 12 month low of $37.82 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $194.43 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. 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 analysts recently issued reports on the company. Piper Sandler lowered their price target on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $137.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of "Buy" and a consensus price target of $135.25.

Insider Transactions at Corcept Therapeutics

In related news, insider William Guyer sold 20,000 shares of Corcept Therapeutics 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 directly owned 5,487 shares in the company, valued at $386,778.63. The trade was a 78.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $70.53, for a total value 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. The trade was a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,215 shares of company stock valued at $15,572,699 over the last three months. 20.80% 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.