Corcept Therapeutics (NASDAQ:CORT) Insider Roberto Wandenkolk Vieira Sells 58,333 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Roberto Wandenkolk Vieira sold 58,333 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $110.76, for a total transaction of $6,460,963.08. Following the completion of the transaction, the insider directly owned 4,242 shares in the company, valued at $469,843.92. This trade represents a 93.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Corcept Therapeutics Price Performance

CORT traded up $2.37 during trading on Thursday, hitting $112.80. 611,080 shares of the stock traded hands, compared to its average volume of 825,680. The business has a 50 day moving average price of $103.65 and a 200 day moving average price of $69.59. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 268.58 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business posted $0.29 EPS. The company’s revenue was up 31.7% compared to the same quarter last year. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current year.

Institutional Trading of Corcept Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CORT. Pathstone Holdings LLC raised its position in Corcept Therapeutics by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock worth $1,497,000 after purchasing an additional 144 shares during the last quarter. State of Wyoming lifted its holdings in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after buying an additional 186 shares during the period. Gould Capital LLC grew its position in shares of Corcept Therapeutics by 50.0% in the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 200 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Corcept Therapeutics by 3.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company’s stock valued at $240,000 after buying an additional 247 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Corcept Therapeutics by 3.4% in the fourth quarter. Deutsche Bank AG now owns 8,446 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 279 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CORT shares. Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Finally, UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a report on Thursday, May 28th. Five 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 stock. Based on data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $138.17.

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.