Corcept Therapeutics (NASDAQ:CORT) Director Sells $3,270,246.75 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Kimberly Park sold 26,685 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $122.55, for a total value of $3,270,246.75. Following the sale, the director owned 30,000 shares of the company’s stock, valued at approximately $3,676,500. This trade represents a 47.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Corcept Therapeutics Trading Down 2.6%

CORT stock traded down $3.05 during trading on Friday, reaching $113.88. The stock had a trading volume of 917,880 shares, compared to its average volume of 1,517,188. Corcept Therapeutics Incorporated has a 52 week low of $28.66 and a 52 week high of $126.38. The stock’s 50 day moving average is $100.49 and its two-hundred day moving average is $67.04. The firm has a market cap of $12.31 billion, a PE ratio of 271.15 and a beta of 0.45.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Torren Management LLC purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $25,000. Advisory Services Network LLC purchased a new stake in Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Corcept Therapeutics in the 2nd quarter worth approximately $27,000. Atlas Capital Advisors Inc. bought a new stake in Corcept Therapeutics during the 4th quarter worth approximately $31,000. Finally, State of Wyoming raised its stake 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 acquiring an additional 186 shares during the period. Institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CORT. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Wolfe Research cut 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. Finally, Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $138.17.

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.