Vise Technologies Inc. Invests $271,000 in Corcept Therapeutics Incorporated $CORT

Vise Technologies Inc. purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,694 shares of the biotechnology company’s stock, valued at approximately $271,000.

Other large investors have also bought and sold shares of the company. Brooklyn Investment Group raised its holdings in shares of Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 186 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Corcept Therapeutics during the 2nd quarter worth approximately $28,000. Huntington National Bank boosted its stake in shares of Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after buying an additional 168 shares during the last quarter. Covestor Ltd boosted its stake in shares of Corcept Therapeutics by 1,741.2% in the 1st quarter. Covestor Ltd now owns 626 shares of the biotechnology company’s stock worth $72,000 after buying an additional 592 shares during the last quarter. Finally, IFP Advisors Inc increased its position 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 valued at $84,000 after acquiring an additional 679 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $85.06, for a total transaction of $1,701,200.00. Following the completion of the transaction, the insider directly owned 7,904 shares in the company, valued at $672,314.24. The trade was a 71.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total value of $3,403,200.00. Following the completion of the sale, the chief executive officer owned 2,781,370 shares in the company, valued at $236,638,959.60. This trade represents a 1.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 259,400 shares of company stock worth $20,009,288 in the last quarter. 20.80% of the stock is owned by company insiders.

Corcept Therapeutics Stock Down 0.6%

CORT opened at $75.12 on Tuesday. The firm has a 50-day moving average price of $77.56 and a 200-day moving average price of $73.76. Corcept Therapeutics Incorporated has a twelve month low of $49.00 and a twelve month high of $117.33. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 66.48 and a beta of 0.43.

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 20.10% and a net margin of 18.51%.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. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Piper Sandler cut their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a report on Friday, August 1st. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. HC Wainwright reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Corcept Therapeutics in a research report on Monday, October 20th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.25.

About Corcept Therapeutics

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.