JSF Financial LLC Makes New Investment in Corcept Therapeutics Incorporated $CORT

Key Points

• JSF Financial LLC recently acquired 14,387 shares of Corcept Therapeutics, valued at approximately $1,056,000, highlighting new investment interest in the company.
• Corcept's stock has a market cap of $9.29 billion and reported an earnings per share (EPS) of $0.29 last quarter, beating analyst estimates.
• Institutional investors own 93.61% of Corcept Therapeutics stock, with several hedge funds increasing their positions significantly in recent quarters.

JSF Financial LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 14,387 shares of the biotechnology company's stock, valued at approximately $1,056,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in Corcept Therapeutics by 24.5% during the 1st quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company's stock valued at $10,670,000 after buying an additional 18,389 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Corcept Therapeutics in the first quarter valued at approximately $331,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Corcept Therapeutics by 883.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company's stock valued at $1,443,000 after acquiring an additional 17,660 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in Corcept Therapeutics in the 1st quarter worth approximately $355,000. Finally, Voya Investment Management LLC lifted its stake in Corcept Therapeutics by 5.3% in the 1st quarter. Voya Investment Management LLC now owns 234,648 shares of the biotechnology company's stock worth $26,801,000 after purchasing an additional 11,898 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $88.15 on Friday. The firm has a market cap of $9.29 billion, a PE ratio of 78.01 and a beta of 0.46. Corcept Therapeutics Incorporated has a fifty-two week low of $42.01 and a fifty-two week high of $117.33. The business has a 50 day moving average price of $73.82 and a 200-day moving average price of $72.22.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on CORT shares. Wall Street Zen raised shares of Corcept Therapeutics from a "hold" rating to a "buy" rating in a report on Friday, September 26th. Piper Sandler reduced their target price 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 restated a "buy" rating and set a $140.00 target price on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Corcept Therapeutics in a research report on Saturday, September 27th. Finally, Zacks Research downgraded Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.25.

Insider Buying and Selling

In related news, insider Joseph Douglas Lyon sold 5,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.75, for a total value of $423,750.00. Following the sale, the insider directly owned 10,277 shares of the company's stock, valued at $870,975.75. This trade represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total value of $3,403,200.00. Following the completion of the sale, the chief executive officer owned 2,781,370 shares of the company's stock, valued at approximately $236,638,959.60. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 286,810 shares of company stock valued at $21,071,092 over the last ninety days. Corporate insiders own 20.80% of the company's stock.

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.

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