Corcept Therapeutics Incorporated $CORT Stake Raised by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its holdings in Corcept Therapeutics by 5.3% during the first quarter, owning approximately $26.80 million worth of shares.
• Several institutional investors made significant investments in Corcept Therapeutics during the first quarter, with institutional ownership now at 93.61% of the company's stock.
• Corcept Therapeutics recently reported a quarterly earnings per share (EPS) of $0.29, exceeding consensus estimates of $0.23, with revenue growth of 18.7% compared to the previous year.

Voya Investment Management LLC increased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,648 shares of the biotechnology company's stock after purchasing an additional 11,898 shares during the quarter. Voya Investment Management LLC owned 0.22% of Corcept Therapeutics worth $26,801,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in Corcept Therapeutics by 3.7% during the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock valued at $453,729,000 after acquiring an additional 142,784 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Corcept Therapeutics by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company's stock valued at $243,708,000 after acquiring an additional 57,942 shares in the last quarter. Invesco Ltd. increased its holdings in Corcept Therapeutics by 76.5% during the 1st quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company's stock valued at $142,345,000 after acquiring an additional 540,101 shares in the last quarter. Northern Trust Corp increased its holdings in Corcept Therapeutics by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company's stock valued at $116,733,000 after acquiring an additional 6,486 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Corcept Therapeutics by 1.1% during the 1st quarter. Cerity Partners LLC now owns 614,794 shares of the biotechnology company's stock worth $70,222,000 after purchasing an additional 6,848 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $70.25, for a total value of $351,250.00. Following the completion of the transaction, the insider owned 10,066 shares of the company's stock, valued at $707,136.50. The trade was a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $70.49, for a total transaction of $1,409,800.00. Following the completion of the transaction, the insider directly owned 7,681 shares of the company's stock, valued at approximately $541,433.69. This represents a 72.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,215 shares of company stock valued at $15,572,699. 20.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CORT shares. Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $137.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Piper Sandler decreased their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $135.25.

Corcept Therapeutics Price Performance

NASDAQ CORT traded up $0.72 during mid-day trading on Friday, hitting $80.52. The company's stock had a trading volume of 3,109,817 shares, compared to its average volume of 724,700. Corcept Therapeutics Incorporated has a 52-week low of $40.62 and a 52-week high of $117.33. The stock's fifty day simple moving average is $71.14 and its two-hundred day simple moving average is $70.18. The firm has a market capitalization of $8.48 billion, a P/E ratio of 71.26 and a beta of 0.29.

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 the consensus estimate of $0.23 by $0.06. The firm had revenue of $194.43 million for the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. Corcept Therapeutics's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Corcept Therapeutics Company 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.