Corcept Therapeutics Incorporated $CORT Stock: Parallel Advisors LLC Cuts Holdings

Parallel Advisors LLC trimmed its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,902,544 shares of the biotechnology company’s stock after selling 59,633 shares during the quarter. Corcept Therapeutics comprises approximately 6.1% of Parallel Advisors LLC’s portfolio, making the stock its 2nd largest holding. Parallel Advisors LLC’s holdings in Corcept Therapeutics were worth $449,690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $1,080,964,000. First Trust Advisors LP lifted its position in Corcept Therapeutics by 213.5% during the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after buying an additional 1,480,059 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Corcept Therapeutics during the second quarter worth approximately $49,185,000. Bank of America Corp DE acquired a new position in Corcept Therapeutics during the second quarter worth $28,569,000. Finally, Legal & General Group Plc acquired a new position in Corcept Therapeutics during the second quarter worth $18,962,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 30,955 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 9,755 shares in the company, valued at approximately $1,225,032.90. This represents a 76.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Roberto Vieira sold 58,333 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $110.76, for a total transaction of $6,460,963.08. Following the completion of the sale, the insider owned 4,242 shares of the company’s stock, valued at $469,843.92. This trade represents a 93.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 382,536 shares of company stock worth $43,406,554. 20.70% of the stock is owned by company insiders.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT traded up $1.14 during mid-day trading on Friday, reaching $72.77. 1,406,672 shares of the company’s stock were exchanged, compared to its average volume of 961,585. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 57.30 and a beta of 0.54. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $126.38. The company’s 50-day moving average is $107.58 and its 200-day moving average is $75.65.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.17. The firm had revenue of $340.47 million for the quarter, compared to analyst estimates of $339.12 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. Corcept Therapeutics’s revenue was up 64.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. As a group, equities analysts predict that Corcept Therapeutics Incorporated will post 1.97 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Canaccord Genuity Group upped their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating and set a $165.00 price target on shares of Corcept Therapeutics in a report on Friday, September 18th. Truist Financial assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price target on the stock. Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.50.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.