QRG Capital Management Inc. Acquires 13,829 Shares of Corcept Therapeutics Incorporated $CORT

Key Points

• QRG Capital Management Inc. increased its stake in Corcept Therapeutics by 14.3%, acquiring an additional 13,829 shares during the second quarter, giving them a total of 110,752 shares valued at approximately $8,129,000.
• Institutional investors now own 93.61% of Corcept Therapeutics, indicating strong interest from larger entities in the biotechnology firm.
• Wall Street analysts have mixed views on Corcept Therapeutics, with ratings varying from buy to strong sell, and a consensus target price of $135.25 per share.

QRG Capital Management Inc. increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 14.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,752 shares of the biotechnology company's stock after acquiring an additional 13,829 shares during the quarter. QRG Capital Management Inc. owned about 0.10% of Corcept Therapeutics worth $8,129,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CORT. Focus Partners Wealth increased its holdings in shares of Corcept Therapeutics by 0.5% during the first quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company's stock worth $3,797,000 after purchasing an additional 170 shares during the period. Brooklyn Investment Group increased its stake in Corcept Therapeutics by 99.5% during the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock worth $43,000 after acquiring an additional 186 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Corcept Therapeutics by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company's stock valued at $909,000 after acquiring an additional 230 shares in the last quarter. Revisor Wealth Management LLC lifted its position in shares of Corcept Therapeutics by 10.2% during the 2nd quarter. Revisor Wealth Management LLC now owns 2,821 shares of the biotechnology company's stock valued at $203,000 after acquiring an additional 260 shares during the period. Finally, Evergreen Capital Management LLC grew its holdings in shares of Corcept Therapeutics by 3.8% during the 1st quarter. Evergreen Capital Management LLC now owns 7,158 shares of the biotechnology company's stock worth $818,000 after purchasing an additional 265 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CORT shares. Wall Street Zen raised Corcept Therapeutics from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. Zacks Research lowered shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 1st. Piper Sandler cut their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Corcept Therapeutics in a research report on Saturday, September 27th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $140.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $135.25.

Corcept Therapeutics Trading Up 3.1%

NASDAQ CORT opened at $88.15 on Monday. The firm has a market capitalization of $9.29 billion, a PE ratio of 78.01 and a beta of 0.46. The business's 50-day moving average price is $73.82 and its two-hundred day moving average price is $72.33. Corcept Therapeutics Incorporated has a 12 month low of $42.01 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, beating 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 firm's revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics 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 completion of the transaction, the insider directly owned 10,277 shares of the company's stock, valued at approximately $870,975.75. This trade represents a 32.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction dated 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 transaction, the chief executive officer directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 286,810 shares of company stock valued at $21,071,092 over the last 90 days. 20.50% of the stock is owned by company insiders.

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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