Corcept Therapeutics Incorporated $CORT Stock: Kornitzer Capital Management Inc. KS Trims Stake

Kornitzer Capital Management Inc. KS reduced its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 18.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,903 shares of the biotechnology company’s stock after selling 15,207 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.06% of Corcept Therapeutics worth $7,824,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CORT. BlackRock Inc. bought a new stake in shares of Corcept Therapeutics in the second quarter worth about $1,080,964,000. Parallel Advisors LLC lifted its position in shares of Corcept Therapeutics by 2.5% in the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after buying an additional 96,763 shares in the last quarter. First Trust Advisors LP boosted its stake 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 valued at $87,609,000 after buying an additional 1,480,059 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Corcept Therapeutics during the second quarter valued at approximately $49,185,000. Finally, Principal Financial Group Inc. boosted its stake in Corcept Therapeutics by 2.5% during the first quarter. Principal Financial Group Inc. now owns 455,248 shares of the biotechnology company’s stock valued at $18,351,000 after buying an additional 11,156 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

CORT has been the subject of several research analyst reports. Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a report on Monday, July 27th. Piper Sandler reaffirmed an “overweight” rating and set a $173.00 price objective (up from $165.00) on shares of Corcept Therapeutics in a report on Wednesday. Zacks Research downgraded Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. HC Wainwright reissued a “buy” rating and issued a $165.00 target price on shares of Corcept Therapeutics in a report on Friday, September 18th. Finally, Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.50.

Insider Activity at Corcept Therapeutics

In other news, Director David L. Mahoney sold 103,606 shares of Corcept Therapeutics stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $118.25, for a total transaction of $12,251,409.50. Following the completion of the sale, the director directly owned 1,133,539 shares in the company, valued at approximately $134,040,986.75. This trade represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 30,955 shares of Corcept Therapeutics stock in a transaction on Tuesday, August 25th. The stock was 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 trade represents a 76.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 382,536 shares of company stock worth $43,406,554 over the last quarter. 20.70% of the stock is owned by insiders.

More Corcept Therapeutics News

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 CORT opened at $72.77 on Friday. The company has a market cap of $7.96 billion, a PE ratio of 57.30 and a beta of 0.54. The business has a fifty day moving average of $107.58 and a 200 day moving average of $75.65. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $126.38.

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

Corcept Therapeutics 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.