S&T Bank PA Sells 19,187 Shares of Corcept Therapeutics Incorporated $CORT

S&T Bank PA decreased its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,108 shares of the biotechnology company’s stock after selling 19,187 shares during the quarter. Corcept Therapeutics accounts for approximately 2.8% of S&T Bank PA’s holdings, making the stock its 3rd largest holding. S&T Bank PA’s holdings in Corcept Therapeutics were worth $9,183,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CORT. Golden State Wealth Management LLC bought a new position in Corcept Therapeutics in the 2nd quarter valued at about $28,000. Huntington National Bank lifted its position in shares of Corcept Therapeutics by 54.0% during the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 168 shares during the period. Brooklyn Investment Group grew its stake in 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 buying an additional 186 shares in the last quarter. USA Financial Formulas bought a new position in Corcept Therapeutics in the 2nd quarter valued at about $56,000. Finally, Farther Finance Advisors LLC raised its position in shares of Corcept Therapeutics by 277.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock valued at $67,000 after buying an additional 669 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $73.99, for a total transaction of $1,479,800.00. Following the transaction, the insider owned 7,904 shares in the company, valued at $584,816.96. The trade was a 71.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $87.54, for a total transaction of $192,588.00. The SEC filing for this sale provides additional information. Insiders sold a total of 241,600 shares of company stock valued at $18,661,148 in the last 90 days. Company insiders own 20.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CORT. Wall Street Zen cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Zacks Research downgraded Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. HC Wainwright reiterated a “buy” rating and set a $145.00 target price on shares of Corcept Therapeutics in a research report on Monday, October 20th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $140.00 price target on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $135.25.

Corcept Therapeutics Stock Down 4.7%

Shares of NASDAQ CORT opened at $73.06 on Friday. The company has a market capitalization of $7.70 billion, a PE ratio of 64.66 and a beta of 0.43. Corcept Therapeutics Incorporated has a twelve month low of $49.00 and a twelve month high of $117.33. The firm has a fifty day simple moving average of $76.74 and a 200 day simple moving average of $73.40.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $223.78 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Corcept Therapeutics 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.