Corcept Therapeutics Target of Unusually Large Options Trading (NASDAQ:CORT)

Corcept Therapeutics Incorporated (NASDAQ:CORT) was the target of some unusual options trading on Monday. Traders purchased 4,326 put options on the stock. This represents an increase of approximately 197% compared to the average volume of 1,456 put options.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the transaction, the insider now owns 7,314 shares of the company’s stock, valued at approximately $190,164. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $26.00, for a total value of $141,518.00. Following the transaction, the insider now owns 7,314 shares in the company, valued at approximately $190,164. The disclosure for this sale can be found here. Insiders have sold a total of 83,783 shares of company stock worth $2,118,996 over the last 90 days. Insiders own 18.60% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC acquired a new stake in shares of Corcept Therapeutics in the third quarter valued at approximately $27,000. FNY Investment Advisers LLC acquired a new stake in Corcept Therapeutics during the 4th quarter valued at $32,000. Gladius Capital Management LP bought a new position in Corcept Therapeutics during the fourth quarter worth $36,000. GAMMA Investing LLC increased its holdings in shares of Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 579 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new position in shares of Corcept Therapeutics in the fourth quarter valued at $45,000. 93.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. HC Wainwright reduced their price target on shares of Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 2nd. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 17th. Finally, Truist Financial increased their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $37.30.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $22.30 on Tuesday. The company’s 50-day moving average price is $23.89 and its two-hundred day moving average price is $25.44. Corcept Therapeutics has a one year low of $20.84 and a one year high of $34.28. The stock has a market capitalization of $2.32 billion, a PE ratio of 23.47 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $135.41 million during the quarter, compared to the consensus estimate of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The business’s revenue was up 31.4% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. On average, analysts anticipate that Corcept Therapeutics will post 0.92 earnings per share for the current fiscal year.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.