Corcept Therapeutics (NASDAQ:CORT) Director Sells $832,000.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $83.20, for a total value of $832,000.00. Following the sale, the director owned 1,094,543 shares in the company, valued at $91,065,977.60. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $79.91 on Friday. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 228.32 and a beta of 0.50. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $91.00. The stock has a 50-day moving average of $59.68 and a 200 day moving average of $52.34.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The business had revenue of $164.90 million for the quarter, compared to analysts’ expectations of $185.83 million. During the same quarter in the prior year, the company posted $0.17 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts predict that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CORT shares. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Piper Sandler boosted their target price on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.83.

Institutional Trading of Corcept Therapeutics

Institutional investors have recently made changes to their positions in the company. Torren Management LLC acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $25,000. Advisory Services Network LLC purchased a new position in Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Clearstead Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 163.6% during the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 193 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $31,000. Finally, State of Wyoming grew its position in shares of Corcept Therapeutics by 29.5% in 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 in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

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.