Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 1,381 Shares of Stock
Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider Gary Charles Robb sold 1,381 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $26.27, for a total transaction of $36,278.87. Following the completion of the transaction, the insider now directly owns 27,602 shares of the company’s stock, valued at approximately $725,104.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Corcept Therapeutics Trading Up 2.2 %
Shares of CORT traded up $0.58 during midday trading on Wednesday, reaching $27.04. The stock had a trading volume of 367,973 shares, compared to its average volume of 720,643. The firm has a 50 day simple moving average of $26.70 and a 200-day simple moving average of $26.87. Corcept Therapeutics Incorporated has a one year low of $17.86 and a one year high of $34.28. The firm has a market cap of $2.79 billion, a PE ratio of 33.38 and a beta of 0.35.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The company had revenue of $123.60 million during the quarter, compared to analysts’ expectations of $119.71 million. Corcept Therapeutics had a net margin of 20.20% and a return on equity of 18.99%. Corcept Therapeutics’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. As a group, research analysts forecast that Corcept Therapeutics Incorporated will post 0.91 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts recently weighed in on CORT shares. HC Wainwright raised their target price on shares of Corcept Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 2nd. Truist Financial raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $38.00 in a research report on Monday, November 6th. Finally, Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.19.
Get Our Latest Research Report on CORT
Institutional Trading of Corcept Therapeutics
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Corcept Therapeutics by 2.5% during the 1st quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company’s stock worth $347,366,000 after buying an additional 376,774 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Corcept Therapeutics by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,332,077 shares of the biotechnology company’s stock worth $264,915,000 after buying an additional 458,414 shares during the last quarter. Ingalls & Snyder LLC lifted its stake in shares of Corcept Therapeutics by 22.6% during the 1st quarter. Ingalls & Snyder LLC now owns 8,370,017 shares of the biotechnology company’s stock worth $181,295,000 after buying an additional 1,544,755 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Corcept Therapeutics by 2.5% during the 1st quarter. Federated Hermes Inc. now owns 4,740,420 shares of the biotechnology company’s stock worth $106,754,000 after buying an additional 114,571 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Corcept Therapeutics by 2.6% during the 2nd quarter. State Street Corp now owns 3,499,446 shares of the biotechnology company’s stock worth $83,217,000 after buying an additional 89,888 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.
Corcept Therapeutics Company Profile (Get Free Report)
Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing’s syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.
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