Public Employees Retirement System of Ohio Boosts Stock Holdings in Corcept Therapeutics Incorporated $CORT

Key Points

• The Public Employees Retirement System of Ohio significantly increased its holdings in Corcept Therapeutics by 1,050.7%, owning 31,817 shares valued at approximately $2.34 million after purchasing 29,052 additional shares in Q2.
• Five Wall Street analysts have rated Corcept Therapeutics as a Buy, with an average target price of $135.25, reflecting strong analyst confidence in the company's performance.
• Insider trading activity included significant sales by executives, with over 221,810 shares sold in the last 90 days, valued at approximately $15.54 million, indicating potential caution among insiders.

Public Employees Retirement System of Ohio raised its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 1,050.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,817 shares of the biotechnology company's stock after purchasing an additional 29,052 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Corcept Therapeutics were worth $2,335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Corcept Therapeutics by 50.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,724 shares of the biotechnology company's stock valued at $389,000 after acquiring an additional 2,578 shares during the last quarter. Rhumbline Advisers increased its stake in Corcept Therapeutics by 0.3% during the first quarter. Rhumbline Advisers now owns 201,401 shares of the biotechnology company's stock worth $23,004,000 after acquiring an additional 565 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Corcept Therapeutics in the 1st quarter worth about $297,000. Eagle Rock Investment Company LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $343,000. Finally, Tealwood Asset Management Inc. acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $2,264,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CORT shares. Wall Street Zen raised shares of Corcept Therapeutics from a "hold" rating to a "buy" rating in a research report on Friday, September 26th. Canaccord Genuity Group reiterated a "buy" rating and set a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Finally, Piper Sandler dropped their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $135.25.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $85.48 on Friday. The firm has a 50-day moving average of $73.42 and a two-hundred day moving average of $71.91. The stock has a market cap of $9.01 billion, a P/E ratio of 75.65 and a beta of 0.46. Corcept Therapeutics Incorporated has a 1-year low of $42.01 and a 1-year high of $117.33.

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

Insiders Place Their Bets

In other news, insider Joseph Douglas Lyon sold 5,823 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.51, for a total transaction of $393,110.73. Following the completion of the sale, the insider owned 10,066 shares of the company's stock, valued at approximately $679,555.66. This trade represents a 36.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 35,007 shares of Corcept Therapeutics stock in a transaction on Friday, August 1st. The stock was sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the completion of the sale, the insider owned 7,681 shares of the company's stock, valued at approximately $520,694.99. This trade represents a 82.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,810 shares of company stock valued at $15,542,942. 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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