MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Holdings in Corcept Therapeutics Incorporated $CORT

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 22.4% during the first quarter, Holdings Channel reports. The fund owned 56,353 shares of the biotechnology company’s stock after acquiring an additional 10,320 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Corcept Therapeutics were worth $6,437,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group increased its position in shares of Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 186 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Corcept Therapeutics by 102.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 313 shares during the period. Covestor Ltd grew its stake in shares of Corcept Therapeutics by 1,741.2% during the first quarter. Covestor Ltd now owns 626 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 592 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Corcept Therapeutics by 1,150.8% during the first quarter. IFP Advisors Inc now owns 738 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 679 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new position in shares of Corcept Therapeutics during the first quarter worth $203,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 35,007 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $67.79, for a total value of $2,373,124.53. Following the completion of the transaction, the insider owned 7,681 shares in the company, valued at $520,694.99. This represents a 82.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $68.53, for a total transaction of $2,741,200.00. Following the sale, the chief executive officer owned 2,861,370 shares of the company’s stock, valued at $196,089,686.10. This trade represents a 1.38% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,015 shares of company stock worth $15,413,309. Insiders own 20.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CORT. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $137.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler lowered their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $135.25.

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $71.62 on Thursday. Corcept Therapeutics Incorporated has a 1 year low of $34.87 and a 1 year high of $117.33. The company has a market capitalization of $7.55 billion, a PE ratio of 63.38 and a beta of 0.29. The company has a fifty day moving average of $70.58 and a two-hundred day moving average of $69.48.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 18.7% on a year-over-year basis. 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 year.

Corcept Therapeutics Company Profile

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.