Corcept Therapeutics (NASDAQ:CORT) Director Sells 10,000 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $83.20, for a total transaction of $832,000.00. Following the sale, the director owned 1,094,543 shares of the company’s stock, valued at $91,065,977.60. This trade represents a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corcept Therapeutics Trading Down 2.3%

CORT stock traded down $1.84 during trading on Thursday, hitting $79.91. 1,875,364 shares of the stock traded hands, compared to its average volume of 1,690,858. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $91.00. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 228.32 and a beta of 0.50. The company has a 50 day simple moving average of $58.15 and a 200 day simple moving average of $52.14.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $164.90 million for the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.Corcept Therapeutics’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, analysts predict that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CORT shares. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wolfe Research upgraded Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, March 26th. HC Wainwright increased their target price on Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research note on Monday. Finally, UBS Group set a $135.00 price target on Corcept Therapeutics in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.83.

Institutional Trading of Corcept Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Torren Management LLC acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $25,000. Advisory Services Network LLC acquired a new stake in shares of Corcept Therapeutics during the third quarter worth $25,000. Clearstead Advisors LLC grew its stake in shares of Corcept Therapeutics by 163.6% during the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 193 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Corcept Therapeutics in the fourth quarter valued at about $31,000. Finally, State of Wyoming increased its holdings 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 purchasing an additional 186 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

About Corcept Therapeutics

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.