Erste Asset Management GmbH Purchases Shares of 18,300 Corcept Therapeutics Incorporated $CORT

Key Points

• Erste Asset Management GmbH acquired 18,300 shares of Corcept Therapeutics, valued at approximately $2.09 million, in its latest 13F filing with the SEC.
• Insider transactions revealed significant reductions in ownership, with Sean Maduck and William Guyer each selling 35,007 shares, representing an 82.01% and 86.45% decrease in their positions, respectively.
• Analysts have adjusted their ratings and price targets for Corcept Therapeutics, with the average target now at $134.50, while Wall Street Zen downgraded the stock from "buy" to "hold."

Erste Asset Management GmbH purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,300 shares of the biotechnology company's stock, valued at approximately $2,090,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Mariner LLC lifted its holdings in shares of Corcept Therapeutics by 13.6% in the 4th quarter. Mariner LLC now owns 13,362 shares of the biotechnology company's stock worth $673,000 after acquiring an additional 1,601 shares during the last quarter. Guggenheim Capital LLC bought a new position in Corcept Therapeutics during the fourth quarter valued at $281,000. Canada Pension Plan Investment Board purchased a new stake in Corcept Therapeutics in the fourth quarter worth about $40,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Corcept Therapeutics by 17.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 104,734 shares of the biotechnology company's stock valued at $5,271,000 after buying an additional 15,838 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Corcept Therapeutics by 4.7% during the 4th quarter. MetLife Investment Management LLC now owns 48,844 shares of the biotechnology company's stock worth $2,461,000 after purchasing an additional 2,186 shares during the period. Institutional investors own 93.61% of the company's stock.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 35,007 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $67.79, for a total value of $2,373,124.53. Following the completion of the sale, the insider directly owned 7,681 shares in the company, valued at $520,694.99. This represents a 82.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 5,823 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $67.51, for a total value of $393,110.73. Following the sale, the insider directly owned 10,066 shares of the company's stock, valued at approximately $679,555.66. The trade was a 36.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 222,215 shares of company stock worth $16,311,201. 20.50% of the stock is currently owned by company insiders.

Corcept Therapeutics Price Performance

Shares of CORT traded up $0.72 during mid-day trading on Wednesday, reaching $70.29. The stock had a trading volume of 51,123 shares, compared to its average volume of 1,302,355. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 62.20 and a beta of 0.20. Corcept Therapeutics Incorporated has a 52-week low of $33.34 and a 52-week high of $117.33. The business's fifty day moving average is $71.10 and its 200 day moving average is $69.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its 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. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The business had revenue of $194.43 million for the quarter, compared to the consensus estimate of $199.40 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business's quarterly revenue was up 18.7% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. HC Wainwright reduced their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Canaccord Genuity Group decreased their target price on Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Piper Sandler dropped their price objective 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. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $134.50.

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.