Vise Technologies Inc. Buys 8,535 Shares of Corcept Therapeutics Incorporated $CORT

Vise Technologies Inc. boosted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 91.1% in the third quarter, HoldingsChannel reports. The firm owned 17,901 shares of the biotechnology company’s stock after acquiring an additional 8,535 shares during the period. Vise Technologies Inc.’s holdings in Corcept Therapeutics were worth $2,063,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new position in Corcept Therapeutics during the 2nd quarter worth approximately $1,080,964,000. Parallel Advisors LLC boosted its position in shares of Corcept Therapeutics by 2.5% during the first 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 in the last quarter. First Trust Advisors LP grew its holdings in shares of Corcept Therapeutics by 213.5% in the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after buying an additional 1,480,059 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Corcept Therapeutics in the 2nd quarter valued at $49,185,000. Finally, Principal Financial Group Inc. raised its stake 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 worth $18,351,000 after buying an additional 11,156 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Joseph Lyon sold 9,190 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $116.13, for a total transaction of $1,067,234.70. Following the sale, the insider owned 5,683 shares in the company, valued at $659,966.79. This represents a 61.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sean Maduck sold 13,159 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $82.25, for a total value of $1,082,327.75. Following the completion of the sale, the insider directly owned 9,938 shares of the company’s stock, valued at approximately $817,400.50. The trade was a 56.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 382,536 shares of company stock worth $43,406,554. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CORT. Truist Financial assumed coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They set a “buy” rating and a $164.00 target price on the stock. Zacks Research lowered Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research report on Monday, July 27th. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $165.00 price objective on shares of Corcept Therapeutics in a research report on Friday, September 18th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.50.

Trending Headlines about Corcept Therapeutics

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

• Positive Sentiment: Third-quarter revenue climbed 64% year over year to about $340.5 million, while earnings of $1.01 per share beat estimates. Higher Korlym sales and growing Lifyorli uptake contributed to the results. Article: CORT’s Q3 Earnings Beat
• Positive Sentiment: Piper Sandler reaffirmed its “overweight” rating and raised its price target to $173 from $165. Article: Piper Sandler rating
• Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has outlined a long-term opportunity of $3 billion to $5 billion in Cushing’s revenue by 2030; both depend on regulatory and commercial success. Article: Relacorilant decision and revenue target
• Negative Sentiment: Shares have faced pressure despite the earnings beat as investors focused on company guidance. HC Wainwright also lowered its Q1 2027 EPS estimate to $0.60 from $0.74, although it kept a Buy rating and $165 price target. Article: Shares fall on guidance
• Negative Sentiment: Two insiders reported sizable sales: Roberto Vieira sold 8,333 shares, reducing his position by about 68%, while Sean Maduck sold shares in two transactions that cut his holdings by more than half. Insider sales can raise concerns, though they do not necessarily indicate a change in company prospects. Article: Corcept insider sale

Corcept Therapeutics Stock Down 9.6%

Shares of CORT opened at $71.63 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38. The stock has a market capitalization of $7.84 billion, a P/E ratio of 56.40 and a beta of 0.54. The company has a 50 day moving average of $108.46 and a 200-day moving average of $75.47.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.84 by $0.17. The business had revenue of $340.47 million during the quarter, compared to analysts’ expectations of $339.12 million. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 22.56%. The firm’s revenue was up 64.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 earnings per share. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.83 earnings per share for the current fiscal year.

About Corcept Therapeutics

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.