Corcept Therapeutics Incorporated $CORT Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Corcept Therapeutics by 46.2%, now holding 8,329 shares worth approximately $611,000 after selling 7,149 shares in the second quarter.
• Corcept Therapeutics reported an earnings per share (EPS) of $0.29, exceeding analysts' expectations, with a net margin of 18.51% and revenue of $194.43 million for the quarter.
• Institutional ownership of Corcept Therapeutics is high, with 93.61% of the stock currently owned by hedge funds and other institutional investors.

US Bancorp DE trimmed its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 46.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,329 shares of the biotechnology company's stock after selling 7,149 shares during the period. US Bancorp DE's holdings in Corcept Therapeutics were worth $611,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Maryland State Retirement & Pension System increased its holdings in Corcept Therapeutics by 18.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 32,305 shares of the biotechnology company's stock worth $2,371,000 after acquiring an additional 5,091 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Corcept Therapeutics by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company's stock valued at $3,237,000 after acquiring an additional 200 shares during the last quarter. JSF Financial LLC acquired a new position in Corcept Therapeutics in the second quarter valued at about $1,056,000. QRG Capital Management Inc. lifted its position in Corcept Therapeutics by 14.3% in the second quarter. QRG Capital Management Inc. now owns 110,752 shares of the biotechnology company's stock valued at $8,129,000 after buying an additional 13,829 shares during the last quarter. Finally, Synergy Asset Management LLC lifted its position in Corcept Therapeutics by 51.4% in the second quarter. Synergy Asset Management LLC now owns 258,494 shares of the biotechnology company's stock valued at $18,973,000 after buying an additional 87,743 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Down 1.0%

Corcept Therapeutics stock opened at $78.69 on Monday. The stock has a market cap of $8.29 billion, a PE ratio of 69.64 and a beta of 0.46. The stock has a 50-day moving average price of $76.01 and a 200 day moving average price of $72.99. Corcept Therapeutics Incorporated has a 52 week low of $42.01 and a 52 week high of $117.33.

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

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $85.06, for a total value of $1,701,200.00. Following the sale, the insider directly owned 7,904 shares of the company's stock, valued at approximately $672,314.24. This trade represents a 71.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.75, for a total value of $423,750.00. Following the completion of the transaction, the insider directly owned 10,277 shares in the company, valued at $870,975.75. This represents a 32.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 292,451 shares of company stock worth $21,850,930 in the last quarter. 20.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Canaccord Genuity Group reissued a "buy" rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a report on Thursday, September 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Zacks Research downgraded Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 1st. Finally, HC Wainwright reissued a "buy" rating and issued a $145.00 target price on shares of Corcept Therapeutics in a report on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $135.25.

Corcept Therapeutics Company 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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