Credit Agricole S A Purchases Shares of 17,335 Corcept Therapeutics Incorporated $CORT

Key Points

• Credit Agricole S A has invested approximately $1.98 million in Corcept Therapeutics, acquiring 17,335 shares during the first quarter.
• Corcept Therapeutics reported $0.29 earnings per share (EPS) for the last quarter, exceeding estimates, with revenues of $194.43 million, though lower than projections.
• Insider sales at Corcept included CEO Joseph K. Belanoff selling 40,000 shares, resulting in a total transaction of approximately $2.74 million, reflecting a 1.38% decrease in his stake.

Credit Agricole S A purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 17,335 shares of the biotechnology company's stock, valued at approximately $1,980,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in shares of Corcept Therapeutics by 269.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company's stock valued at $144,000 after purchasing an additional 2,086 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Corcept Therapeutics by 24.5% in the 1st quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company's stock valued at $10,670,000 after purchasing an additional 18,389 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Corcept Therapeutics in the 1st quarter valued at approximately $331,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Corcept Therapeutics in the 1st quarter valued at approximately $355,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Corcept Therapeutics in the 1st quarter valued at approximately $384,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Down 0.7%

Shares of NASDAQ:CORT traded down $0.52 during midday trading on Friday, reaching $69.08. The company's stock had a trading volume of 63,502 shares, compared to its average volume of 1,293,822. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 61.15 and a beta of 0.20. Corcept Therapeutics Incorporated has a 1 year low of $33.34 and a 1 year high of $117.33. The business has a 50 day moving average price of $71.03 and a 200 day moving average price of $69.46.

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 (EPS) for the quarter, beating 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 the consensus estimate of $199.40 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. 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. Sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CORT. Piper Sandler lowered their target price on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. HC Wainwright decreased their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group decreased their price target on Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $134.50.

Insider Buying and Selling

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $72.30, for a total value of $159,060.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $68.53, for a total value of $2,741,200.00. Following the completion of the transaction, the chief executive officer owned 2,861,370 shares in the company, valued at approximately $196,089,686.10. This trade represents a 1.38% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,215 shares of company stock valued at $16,311,201. 20.80% of the stock is owned by insiders.

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.