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

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $111.43, for a total transaction of $1,114,300.00. Following the completion of the sale, the director owned 1,074,543 shares in the company, valued at $119,736,326.49. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Corcept Therapeutics Stock Up 0.8%

NASDAQ CORT opened at $119.02 on Thursday. The firm has a market cap of $12.87 billion, a PE ratio of 283.39 and a beta of 0.45. The company has a 50 day moving average price of $95.84 and a 200 day moving average price of $63.62. Corcept Therapeutics Incorporated has a 52 week low of $28.66 and a 52 week high of $122.21.

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, beating the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. During the same period last year, the firm earned $0.29 earnings per share. Corcept Therapeutics’s revenue was up 31.7% compared to the same quarter last year. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on CORT shares. Piper Sandler restated an “overweight” rating and set a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. UBS Group set a $135.00 price target on Corcept Therapeutics in a report on Thursday, May 28th. Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. HC Wainwright upped their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Truist Financial assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $164.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $138.17.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Torren Management LLC purchased a new stake in Corcept Therapeutics in the fourth quarter valued at $25,000. Advisory Services Network LLC acquired a new position in shares of Corcept Therapeutics in the 3rd quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Corcept Therapeutics in the second quarter worth about $27,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Corcept Therapeutics in the fourth quarter worth about $31,000. Finally, State of Wyoming grew its holdings in Corcept Therapeutics by 29.5% during the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 186 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.