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

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $110.69, for a total value of $1,106,900.00. Following the transaction, the director owned 1,064,543 shares of the company’s stock, valued at approximately $117,834,264.67. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Corcept Therapeutics Stock Up 0.9%

CORT stock opened at $111.81 on Thursday. The business’s fifty day simple moving average is $107.76 and its two-hundred day simple moving average is $74.40. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 266.22 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released 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. The business had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. Research analysts expect that Corcept Therapeutics Incorporated will post 2.02 EPS for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors have recently made changes to their positions in CORT. Sequoia Financial Advisors LLC bought a new stake in shares of Corcept Therapeutics in the second quarter valued at about $645,000. Tidal Investments LLC increased its position in Corcept Therapeutics by 9.2% during the 2nd quarter. Tidal Investments LLC now owns 24,218 shares of the biotechnology company’s stock valued at $2,106,000 after purchasing an additional 2,039 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Corcept Therapeutics during the 2nd quarter valued at about $558,000. NewEdge Advisors LLC raised its holdings in shares of Corcept Therapeutics by 17.9% in the 2nd quarter. NewEdge Advisors LLC now owns 11,041 shares of the biotechnology company’s stock valued at $960,000 after purchasing an additional 1,677 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Corcept Therapeutics by 568.4% in the 2nd quarter. IFP Advisors Inc now owns 909 shares of the biotechnology company’s stock valued at $79,000 after purchasing an additional 773 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. UBS Group set a $135.00 target price on shares of Corcept Therapeutics in a research report on Thursday, May 28th. Wolfe Research lowered shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research report on Monday, July 27th. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $138.17.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering and developing medicines that modulate the effects of the stress hormone cortisol. The company’s research centers on the glucocorticoid receptor, which regulates cortisol activity and may play a role in metabolic, psychiatric, oncologic and other serious diseases.

Corcept’s commercial product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.