Voya Investment Management LLC Has $26.80 Million Stock Holdings in Corcept Therapeutics Incorporated $CORT

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 position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,648 shares of the biotechnology company's stock after acquiring an additional 11,898 shares during the quarter. Voya Investment Management LLC owned about 0.22% of Corcept Therapeutics worth $26,801,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Modern Wealth Management LLC acquired a new position in shares of Corcept Therapeutics during the first quarter valued at $330,000. Strs Ohio acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at $1,531,000. Advisors Capital Management LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at $251,000. Iron Gate Global Advisors LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at $400,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Corcept Therapeutics by 45.4% in the 1st quarter. Acadian Asset Management LLC now owns 166,490 shares of the biotechnology company's stock valued at $19,011,000 after purchasing an additional 52,000 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $72.45, for a total value of $159,390.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction dated 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 sale, the insider directly owned 10,066 shares in the company, valued at $707,136.50. This represents a 33.19% 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 worth $15,572,699. 20.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CORT. Piper Sandler cut their price target 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. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $137.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $135.25.

Corcept Therapeutics Trading Down 2.0%

Shares of Corcept Therapeutics stock opened at $72.87 on Monday. The company has a market capitalization of $7.68 billion, a PE ratio of 64.49 and a beta of 0.29. Corcept Therapeutics Incorporated has a 12 month low of $35.87 and a 12 month high of $117.33. The stock's fifty day simple moving average is $70.62 and its 200 day simple moving average is $69.76.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The business had revenue of $194.43 million for the quarter, compared to the consensus estimate of $199.40 million. During the same quarter last 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. Analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

About Corcept Therapeutics

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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