Corcept Therapeutics Incorporated $CORT Position Reduced by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lowered its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 53.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 46,360 shares of the biotechnology company’s stock after selling 53,100 shares during the period. Lisanti Capital Growth LLC’s holdings in Corcept Therapeutics were worth $3,403,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Corcept Therapeutics in the second quarter valued at about $28,000. Huntington National Bank grew its position in shares of Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 168 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Corcept Therapeutics by 99.5% in 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 in the last quarter. USA Financial Formulas bought a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $56,000. Finally, Farther Finance Advisors LLC raised its position in shares of Corcept Therapeutics by 277.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 669 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $73.72 on Friday. Corcept Therapeutics Incorporated has a 1-year low of $49.00 and a 1-year high of $117.33. The business’s fifty day moving average price is $76.82 and its two-hundred day moving average price is $73.54. The company has a market capitalization of $7.75 billion, a P/E ratio of 65.24 and a beta of 0.43.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The business had revenue of $207.64 million during the quarter, compared to the consensus estimate of $223.78 million. During the same period in the previous year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 28,782 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $74.77, for a total value of $2,152,030.14. Following the completion of the transaction, the chief executive officer directly owned 2,741,370 shares in the company, valued at $204,972,234.90. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $87.54, for a total transaction of $192,588.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 261,600 shares of company stock worth $20,168,348 in the last three months. Insiders own 20.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a report on Thursday, September 25th. HC Wainwright reaffirmed a “buy” rating and set a $145.00 price objective on shares of Corcept Therapeutics in a research report on Monday, October 20th. Piper Sandler dropped their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.25.

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.