Corcept Therapeutics (NASDAQ:CORT) CFO Sells $9,176,800.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) CFO Atabak Mokari sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $114.71, for a total transaction of $9,176,800.00. Following the completion of the sale, the chief financial officer owned 16,130 shares of the company’s stock, valued at approximately $1,850,272.30. This trade represents a 83.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Atabak Mokari also recently made the following trade(s):

• On Monday, June 15th, Atabak Mokari sold 40,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $81.15, for a total transaction of $3,246,000.00.
• On Monday, June 1st, Atabak Mokari sold 40,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.00, for a total value of $2,800,000.00.

Corcept Therapeutics Trading Up 0.8%

Shares of CORT opened at $110.69 on Thursday. The firm has a market cap of $11.97 billion, a PE ratio of 263.55 and a beta of 0.45. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $122.21. The stock has a fifty day moving average price of $87.69 and a 200-day moving average price of $58.49.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm had revenue of $256.15 million for the quarter, compared to the consensus estimate of $221.15 million. During the same period in the previous year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. As a group, research analysts forecast that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently bought and sold shares of CORT. Torren Management LLC acquired a new stake in Corcept Therapeutics during the 4th quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new position in shares of Corcept Therapeutics during the third quarter worth $25,000. Atlas Capital Advisors Inc. purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth $31,000. State of Wyoming lifted its position in Corcept Therapeutics by 29.5% during 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 period. Finally, Hantz Financial Services Inc. lifted its position in Corcept Therapeutics by 113.7% during the fourth quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 524 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CORT. HC Wainwright increased their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. Finally, Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $119.17.

Corcept Therapeutics Company Profile

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.