Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Director Sells 2,200 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $72.45, for a total value of $159,390.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corcept Therapeutics Trading Down 2.0%

Shares of Corcept Therapeutics stock opened at $72.87 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $35.87 and a 12 month high of $117.33. The stock has a 50 day moving average of $70.62 and a 200 day moving average of $69.69. The firm has a market cap of $7.68 billion, a PE ratio of 64.49 and a beta of 0.29.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The firm had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. During the same period in the prior year, the company earned $0.32 EPS. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corcept Therapeutics

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of Corcept Therapeutics by 3.7% during the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company’s stock worth $453,729,000 after purchasing an additional 142,784 shares during the period. Dimensional Fund Advisors LP lifted its stake in Corcept Therapeutics by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company’s stock worth $243,708,000 after purchasing an additional 57,942 shares during the last quarter. Invesco Ltd. boosted its position in shares of Corcept Therapeutics by 76.5% during the first quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company’s stock valued at $142,345,000 after buying an additional 540,101 shares during the period. Northern Trust Corp grew its stake in shares of Corcept Therapeutics by 0.6% during the first quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company’s stock valued at $116,733,000 after buying an additional 6,486 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Corcept Therapeutics during the 2nd quarter worth approximately $72,048,000. Institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

CORT has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $137.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler dropped their price target on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $135.25.

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.