Empowered Funds LLC Buys Shares of 97,295 Corcept Therapeutics Incorporated $CORT

Key Points

• Empowered Funds LLC acquired 97,295 Corcept Therapeutics shares in the first quarter, worth approximately $3.92 million and representing about 0.09% of the company. Institutional investors and hedge funds collectively own 93.61% of CORT.
• Corcept reported strong quarterly results, with earnings of $0.36 per share versus the $0.02 consensus estimate and revenue of $256.15 million, up 31.7% year over year. Piper Sandler and HC Wainwright maintained bullish ratings and raised their price targets to $165.
• CORT shares trade near their 12-month high at $114.49, but the stock carries a high price-to-earnings ratio of 272.60, while insiders have sold 300,000 shares worth $22.1 million in the past 90 days. Analysts’ average target is mixed, ranging from $94.67 to $119.17 depending on the estimate source.

Empowered Funds LLC bought a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 97,295 shares of the biotechnology company's stock, valued at approximately $3,922,000. Empowered Funds LLC owned approximately 0.09% of Corcept Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Corcept Therapeutics by 18.9% in the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company's stock worth $1,757,000 after buying an additional 2,444 shares in the last quarter. Amundi purchased a new stake in Corcept Therapeutics during the 1st quarter valued at about $450,000. NewEdge Advisors LLC purchased a new stake in Corcept Therapeutics during the 1st quarter valued at about $518,000. EverSource Wealth Advisors LLC raised its holdings in Corcept Therapeutics by 273.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company's stock valued at $106,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Corcept Therapeutics by 795.3% in the 2nd quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company's stock valued at $3,391,000 after acquiring an additional 41,040 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Corcept’s latest quarterly results exceeded expectations, with earnings of $0.36 per share versus the $0.02 consensus estimate and revenue of $256.15 million versus $221.15 million expected. Revenue increased 31.7% year over year, helping drive the stock to a new 12-month high. Corcept Therapeutics Reaches New 12-Month High After Better-Than-Expected Earnings
• Positive Sentiment: Piper Sandler assigned Corcept an “Overweight” rating, signaling confidence in the company’s growth outlook. Corcept Therapeutics Earns Overweight Rating from Piper Sandler
• Positive Sentiment: HC Wainwright maintained a “Buy” rating and a $165 price target. The firm raised its FY2026 EPS forecast to $2.15 from $0.80 and increased its Q3 2026 estimate to $0.78 from $0.34, suggesting expectations for significant near-term earnings growth.
• Neutral Sentiment: Brokerages’ average target price is $94.67, materially below the recent $114.49 reference price. This gap indicates analysts have not fully caught up with the rally or see limited upside from current levels. Brokerages Set Corcept Therapeutics Target Price at $94.67
• Negative Sentiment: Despite the bullish rating, HC Wainwright reduced its FY2027 EPS forecast to $3.95 from $5.38 and lowered estimates for Q1–Q4 2027. These revisions raise concerns about the pace of longer-term earnings growth, particularly with CORT trading at a very high valuation.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $114.49 on Monday. The company has a market capitalization of $12.38 billion, a PE ratio of 272.60 and a beta of 0.45. The firm's 50-day moving average is $84.77 and its two-hundred day moving average is $56.91. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $122.21.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.34. The business had revenue of $256.15 million during the quarter, compared to analysts' expectations of $221.15 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business's revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CORT. Wall Street Zen upgraded Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Saturday. Truist Financial raised Corcept Therapeutics to a "strong-buy" rating in a report on Monday, June 15th. HC Wainwright increased their price target on Corcept Therapeutics from $95.00 to $165.00 and gave the company a "buy" rating in a report on Thursday. Piper Sandler reiterated an "overweight" rating and set a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday. Finally, UBS Group set a $135.00 price objective on Corcept Therapeutics in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Corcept Therapeutics has an average rating of "Moderate Buy" and an average target price of $119.17.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director David L. Mahoney sold 20,000 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $84.53, for a total transaction of $1,690,600.00. Following the completion of the sale, the director owned 26,147 shares of the company's stock, valued at $2,210,205.91. This trade represents a 43.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 75,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $65.59, for a total value of $4,919,250.00. Following the sale, the insider directly owned 8,977 shares of the company's stock, valued at approximately $588,801.43. This trade represents a 89.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 300,000 shares of company stock valued at $22,088,050 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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