Lisanti Capital Growth LLC Purchases 21,913 Shares of Corcept Therapeutics Incorporated $CORT

Lisanti Capital Growth LLC grew its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 47.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 68,273 shares of the biotechnology company’s stock after purchasing an additional 21,913 shares during the period. Corcept Therapeutics comprises about 1.4% of Lisanti Capital Growth LLC’s portfolio, making the stock its 25th largest holding. Lisanti Capital Growth LLC’s holdings in Corcept Therapeutics were worth $5,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Corcept Therapeutics by 18.9% in the 1st quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock valued at $1,757,000 after buying an additional 2,444 shares during the last quarter. Amundi bought a new position in shares of Corcept Therapeutics in the first quarter valued at approximately $450,000. NewEdge Advisors LLC purchased a new stake in shares of Corcept Therapeutics during the first quarter valued at approximately $518,000. Farther Finance Advisors LLC lifted its holdings in Corcept Therapeutics by 277.6% during the second quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock worth $67,000 after acquiring an additional 669 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in Corcept Therapeutics by 1,050.7% in the second quarter. Public Employees Retirement System of Ohio now owns 31,817 shares of the biotechnology company’s stock worth $2,335,000 after purchasing an additional 29,052 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Key Corcept Therapeutics News

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

• Negative Sentiment: Corrected FDA letter shows agency warned Corcept multiple times not to file the relacorilant application, suggesting the submission may have been premature and increasing the likelihood of rejection or lengthy remediation — a direct hit to the drug’s approval outlook and commercial timeline. Read More.
• Negative Sentiment: Market coverage amplified the regulatory setback and its implications for relacorilant; media reports accelerated selling pressure and negative investor sentiment. Read More.
• Negative Sentiment: Multiple law firms have launched securities investigations and potential class‑action claims alleging Corcept may have misled investors about relacorilant or related disclosures; this increases legal and financial risk (possible settlements, defense costs, management distraction). Representative notices: Berman Tabacco, Rosen Law Firm, Bernstein Liebhard, Block & Leviton, Pomerantz, Schall, DJS. Read More. Read More. Read More.

Wall Street Analyst Weigh In

CORT has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Truist Financial set a $50.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, December 31st. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 target price on the stock. in a research note on Wednesday, December 31st. HC Wainwright raised their price target on shares of Corcept Therapeutics from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, UBS Group assumed coverage on shares of Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Hold” and a consensus price target of $83.50.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $73.65, for a total value of $368,250.00. Following the completion of the transaction, the insider owned 10,277 shares in the company, valued at $756,901.05. This trade represents a 32.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $79.77, for a total value of $3,190,800.00. Following the transaction, the chief executive officer directly owned 2,701,370 shares of the company’s stock, valued at $215,488,284.90. The trade was a 1.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 194,500 shares of company stock valued at $14,186,410 over the last three months. Insiders own 20.80% of the company’s stock.

Corcept Therapeutics Price Performance

CORT opened at $39.87 on Friday. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 45.31 and a beta of 0.23. The company has a quick ratio of 3.07, a current ratio of 3.14 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $62.11 and a 200-day moving average price of $70.17. Corcept Therapeutics Incorporated has a twelve month low of $32.99 and a twelve month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The business had revenue of $207.64 million during the quarter, compared to the consensus estimate of $223.78 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.