Parallel Advisors LLC Sells 59,633 Shares of Corcept Therapeutics Incorporated $CORT

Parallel Advisors LLC lowered its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,902,544 shares of the biotechnology company’s stock after selling 59,633 shares during the quarter. Corcept Therapeutics comprises about 6.1% of Parallel Advisors LLC’s portfolio, making the stock its 2nd largest position. Parallel Advisors LLC owned about 3.61% of Corcept Therapeutics worth $449,690,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in shares of Corcept Therapeutics by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 14,007 shares of the biotechnology company’s stock valued at $1,650,000 after purchasing an additional 178 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Corcept Therapeutics by 1.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,617 shares of the biotechnology company’s stock valued at $923,000 after buying an additional 184 shares during the last quarter. State of Wyoming boosted its position in Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 186 shares during the last quarter. Wedmont Private Capital increased its holdings in Corcept Therapeutics by 6.1% in the 3rd quarter. Wedmont Private Capital now owns 3,329 shares of the biotechnology company’s stock worth $395,000 after buying an additional 190 shares during the period. Finally, Choreo LLC increased its holdings in Corcept Therapeutics by 8.0% in the 3rd quarter. Choreo LLC now owns 4,190 shares of the biotechnology company’s stock worth $483,000 after buying an additional 312 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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

Wall Street Analyst Weigh In

Several analysts have commented on CORT shares. Piper Sandler restated an “overweight” rating and set a $173.00 price objective (up from $165.00) on shares of Corcept Therapeutics in a research note on Wednesday. Zacks Research cut Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 27th. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a report on Monday, July 27th. Truist Financial started coverage on Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $165.00 price objective on shares of Corcept Therapeutics in a research note on Friday, September 18th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.50.

Corcept Therapeutics Trading Up 1.6%

CORT traded up $1.14 during midday trading on Friday, hitting $72.77. 1,406,672 shares of the company traded hands, compared to its average volume of 961,585. The business has a 50 day simple moving average of $107.58 and a two-hundred day simple moving average of $75.65. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $126.38. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 57.30 and a beta of 0.54.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.17. The firm had revenue of $340.47 million during the quarter, compared to the consensus estimate of $339.12 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company’s revenue for the quarter was up 64.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.97 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 13,159 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $82.25, for a total value of $1,082,327.75. Following the sale, the insider directly owned 9,938 shares of the company’s stock, valued at $817,400.50. The trade was a 56.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Roberto Vieira sold 8,333 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $80.89, for a total value of $674,056.37. Following the sale, the insider owned 3,946 shares of the company’s stock, valued at $319,191.94. The trade was a 67.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 382,536 shares of company stock valued at $43,406,554. 20.70% of the stock is currently owned by corporate insiders.

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.