BlackRock Inc. bought a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,432,023 shares of the biotechnology company's stock, valued at approximately $1,080,964,000. BlackRock Inc. owned about 11.50% of Corcept Therapeutics at the end of the most recent quarter.

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A number of other large investors have also added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Corcept Therapeutics by 18.9% during the 1st quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company's stock worth $1,757,000 after acquiring an additional 2,444 shares during the last quarter. Amundi bought a new stake in Corcept Therapeutics during the 1st quarter worth approximately $450,000. NewEdge Advisors LLC bought a new stake in Corcept Therapeutics in the 1st quarter worth about $518,000. EverSource Wealth Advisors LLC raised its position in Corcept Therapeutics by 273.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company's stock worth $106,000 after acquiring an additional 1,055 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Corcept Therapeutics by 795.3% during the 2nd quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company's stock worth $3,391,000 after acquiring an additional 41,040 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Analyst Ratings Changes

CORT has been the topic of a number of analyst reports. Weiss Ratings upgraded Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday. Truist Financial initiated coverage on Corcept Therapeutics in a research note on Tuesday. They issued a "buy" rating and a $164.00 target price on the stock. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Piper Sandler reaffirmed an "overweight" rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Finally, Wolfe Research downgraded shares of Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price objective on the stock. in a research report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $138.17.

Get Our Latest Stock Analysis on CORT

Corcept Therapeutics Price Performance

CORT stock opened at $122.25 on Friday. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $123.44. The business has a fifty day moving average price of $97.39 and a 200-day moving average price of $64.60. The stock has a market capitalization of $13.22 billion, a P/E ratio of 291.08 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.34. The firm had revenue of $256.15 million for the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company's revenue for the quarter was up 31.7% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 16,300 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $113.43, for a total value of $1,848,909.00. Following the transaction, the insider directly owned 3,985 shares in the company, valued at approximately $452,018.55. This trade represents a 80.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David L. Mahoney sold 103,606 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $118.25, for a total value of $12,251,409.50. Following the completion of the transaction, the director directly owned 1,133,539 shares in the company, valued at approximately $134,040,986.75. This represents a 8.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 520,146 shares of company stock valued at $48,903,764 in the last quarter. Insiders own 20.70% of the company's stock.

Corcept Therapeutics News Roundup

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Zacks sharply raised long-term earnings forecasts. The firm increased its FY2026 EPS estimate to $1.02 from $0.38, FY2027 to $1.91 from $1.25, and FY2028 to $4.07 from $3.14. Quarterly estimates were also raised, including Q1 2027 to $0.11 from a projected loss of $0.17 and Q2 2028 to $1.17 from $0.69. These revisions signal expectations for accelerating profitability.
• Positive Sentiment: Recent operating results provide support for the bullish outlook. Corcept’s latest reported quarter produced $0.36 in EPS versus the $0.02 consensus estimate, while revenue of $256.15 million exceeded expectations of $221.15 million and grew 31.7% year over year.
• Positive Sentiment: Analyst sentiment and price targets remain constructive. Recent coverage includes Buy or Overweight ratings and price targets ranging from $150 to $165, while the reported consensus rating is “Moderate Buy” with a $138.17 target. An investment analysis also argued that the launch of Lifyorli and continued Korlym growth could drive revenue growth, margin expansion and further EPS upside. Like The Knicks, Corcept Rebounded And Is Crushing It
• Neutral Sentiment: Zacks maintained a “Hold” rating. The improved earnings estimates are encouraging, but the unchanged rating suggests the analyst views the stock’s substantial rally and high valuation as partly reflected in the price.
• Negative Sentiment: Director David Mahoney sold 103,606 shares for approximately $12.25 million. The transaction reduced his ownership by 8.37%, although he still retained more than 1.13 million shares. The sale could create short-term sentiment pressure, but it does not necessarily indicate a change in the company’s fundamentals. Insider Selling: Corcept Therapeutics Director Sells Stock

Corcept Therapeutics Profile

(Free Report)

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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