Corcept Therapeutics Incorporated (NASDAQ:CORT) Short Interest Up 5.5% in March

Corcept Therapeutics Incorporated (NASDAQ:CORT) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 21,330,000 shares, an increase of 5.5% from the March 15th total of 20,220,000 shares. Based on an average trading volume of 1,420,000 shares, the short-interest ratio is currently 15.0 days. Currently, 23.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CORT shares. HC Wainwright lowered their price objective on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 2nd. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 24th. Finally, Truist Financial raised their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $37.30.

Insider Activity at Corcept Therapeutics

In related news, insider Sean Maduck sold 27,068 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the sale, the insider now owns 74,455 shares in the company, valued at approximately $1,933,596.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the transaction, the insider now owns 74,455 shares in the company, valued at approximately $1,933,596.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Douglas Lyon sold 5,443 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total value of $141,518.00. Following the transaction, the insider now owns 7,314 shares in the company, valued at approximately $190,164. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,783 shares of company stock worth $2,118,996. Company insiders own 18.60% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several large investors have recently bought and sold shares of CORT. Norges Bank acquired a new stake in Corcept Therapeutics in the fourth quarter valued at about $15,648,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Corcept Therapeutics during the fourth quarter valued at about $15,164,000. Vanguard Group Inc. boosted its stake in shares of Corcept Therapeutics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,332,077 shares of the biotechnology company’s stock valued at $264,915,000 after purchasing an additional 458,414 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Corcept Therapeutics by 2.5% during the first quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company’s stock valued at $347,366,000 after purchasing an additional 376,774 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Corcept Therapeutics by 102.4% during the third quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock valued at $18,634,000 after purchasing an additional 346,000 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Up 1.0 %

NASDAQ:CORT opened at $23.39 on Wednesday. The stock’s 50-day simple moving average is $23.91 and its 200 day simple moving average is $25.54. The firm has a market capitalization of $2.42 billion, a PE ratio of 24.62 and a beta of 0.48. Corcept Therapeutics has a twelve month low of $20.87 and a twelve month high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. Corcept Therapeutics’s revenue was up 31.4% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. On average, analysts anticipate that Corcept Therapeutics will post 0.92 EPS for the current fiscal year.

About Corcept Therapeutics

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.