Corcept Therapeutics Incorporated $CORT Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 18.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,903 shares of the biotechnology company’s stock after selling 15,207 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Corcept Therapeutics were worth $7,824,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $1,080,964,000. Parallel Advisors LLC increased its holdings in Corcept Therapeutics by 2.5% during the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after purchasing an additional 96,763 shares during the period. First Trust Advisors LP increased its holdings in Corcept Therapeutics by 213.5% during the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after purchasing an additional 1,480,059 shares during the period. Bank of New York Mellon Corp purchased a new position in Corcept Therapeutics during the 2nd quarter worth $49,185,000. Finally, Principal Financial Group Inc. raised its position in Corcept Therapeutics by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 455,248 shares of the biotechnology company’s stock valued at $18,351,000 after purchasing an additional 11,156 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Trending Headlines about Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: HC Wainwright maintained its Buy rating and $165 price target, while projecting substantial longer-term earnings growth, including $6.76 per share in FY2028 and $12.92 in FY2030. HC Wainwright recommendations
• Negative Sentiment: HC Wainwright lowered EPS estimates across several upcoming quarters and years: FY2026 to $2.05 from $2.15 and FY2027 to $3.39 from $3.95, with cuts also to its Q4 2026 and 2027 quarterly forecasts. These downward revisions may temper expectations despite the analyst’s bullish rating. HC Wainwright recommendations
• Negative Sentiment: Insiders Roberto Vieira and Sean Maduck sold substantial portions of their holdings in transactions disclosed this week. Insider sales can raise investor concerns, though they do not necessarily reflect the company’s outlook. Insider selling report

Corcept Therapeutics Stock Up 1.6%

Shares of Corcept Therapeutics stock opened at $72.77 on Friday. The firm’s 50 day moving average price is $107.58 and its 200-day moving average price is $75.65. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $126.38. The company has a market cap of $7.96 billion, a P/E ratio of 57.30 and a beta of 0.54.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Tuesday, November 3rd. The biotechnology company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.84 by $0.17. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 22.56%. The firm had revenue of $340.47 million during the quarter, compared to analyst estimates of $339.12 million. During the same quarter in the previous year, the business posted $0.16 EPS. Corcept Therapeutics’s revenue was up 64.0% on a year-over-year basis. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Guyer sold 16,300 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $113.43, for a total transaction of $1,848,909.00. Following the completion of the sale, the insider owned 3,985 shares in the company, valued at approximately $452,018.55. This represents a 80.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 30,955 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $125.58, for a total value of $3,887,328.90. Following the sale, the insider owned 9,755 shares of the company’s stock, valued at approximately $1,225,032.90. This represents a 76.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 382,536 shares of company stock valued at $43,406,554. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $173.00 target price (up from $165.00) on shares of Corcept Therapeutics in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $165.00 price target on shares of Corcept Therapeutics in a research report on Friday, September 18th. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Zacks Research downgraded Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 27th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.50.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a biopharmaceutical company focused on developing medicines that modulate the effects of cortisol, a hormone involved in the body’s response to stress and in several disease processes. Founded in 1998, the company conducts research and develops treatments for conditions in which cortisol may play a role.

Its marketed product, Korlym (mifepristone), is approved in the United States to control high blood sugar in adults with endogenous Cushing’s syndrome who have type 2 diabetes or glucose intolerance and are not candidates for surgery or have not benefited from it.