Neo Ivy Capital Management Cuts Stock Position in Corcept Therapeutics Incorporated $CORT

Neo Ivy Capital Management cut its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 79.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,419 shares of the biotechnology company’s stock after selling 5,553 shares during the quarter. Neo Ivy Capital Management’s holdings in Corcept Therapeutics were worth $104,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Corcept Therapeutics by 883.0% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company’s stock worth $1,443,000 after purchasing an additional 17,660 shares in the last quarter. Voya Investment Management LLC grew its holdings in Corcept Therapeutics by 5.3% during the 1st quarter. Voya Investment Management LLC now owns 234,648 shares of the biotechnology company’s stock valued at $26,801,000 after buying an additional 11,898 shares in the last quarter. Iron Gate Global Advisors LLC bought a new stake in shares of Corcept Therapeutics during the first quarter valued at approximately $400,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Corcept Therapeutics by 22.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,353 shares of the biotechnology company’s stock valued at $6,437,000 after buying an additional 10,320 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Corcept Therapeutics by 45.4% in the first quarter. Acadian Asset Management LLC now owns 166,490 shares of the biotechnology company’s stock worth $19,011,000 after buying an additional 52,000 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CORT. Wolfe Research assumed coverage on shares of Corcept Therapeutics in a research note on Tuesday, November 18th. They set a “peer perform” rating for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday. Piper Sandler reduced their target price on 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 Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $135.25.

Corcept Therapeutics Stock Up 3.0%

Corcept Therapeutics stock opened at $77.29 on Friday. The company’s 50-day moving average price is $77.82 and its 200-day moving average price is $73.85. The company has a market cap of $8.13 billion, a PE ratio of 68.40 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.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results 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 company had revenue of $207.64 million during the quarter, compared to analysts’ expectations of $223.78 million. During the same quarter in the prior year, the business posted $0.41 EPS. The company’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, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In related news, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $85.06, for a total value of $1,701,200.00. Following the completion of the sale, the insider directly owned 7,904 shares in the company, valued at $672,314.24. This trade represents a 71.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $70.49, for a total transaction of $1,409,800.00. Following the transaction, the insider directly owned 5,487 shares of the company’s stock, valued at $386,778.63. The trade was a 78.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 259,400 shares of company stock worth $20,009,288. 20.80% of the stock is currently owned by company insiders.

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.