Insider Selling: Corcept Therapeutics Incorporated (CORT) Director Sells 269,955 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Patrick G. Enright sold 269,955 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $9.94, for a total value of $2,683,352.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) traded up 4.95% during midday trading on Monday, hitting $10.39. The stock had a trading volume of 1,015,565 shares. Corcept Therapeutics Incorporated has a 12-month low of $4.01 and a 12-month high of $11.40. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 148.43 and a beta of 1.72. The company’s 50-day moving average price is $8.77 and its 200-day moving average price is $7.74.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, March 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Corcept Therapeutics had a return on equity of 28.11% and a net margin of 6.21%. Equities research analysts forecast that Corcept Therapeutics Incorporated will post $0.26 EPS for the current year.

Insider Buying and Selling by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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A number of research firms have recently weighed in on CORT. TheStreet raised Corcept Therapeutics from a “c+” rating to a “b” rating in a report on Friday, March 10th. Zacks Investment Research cut Corcept Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, February 2nd. Ladenburg Thalmann Financial Services assumed coverage on Corcept Therapeutics in a research report on Thursday, February 2nd. They issued a “buy” rating and a $14.00 price objective for the company. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $18.00 price objective (up previously from $12.00) on shares of Corcept Therapeutics in a research report on Wednesday, March 15th. Finally, Janney Montgomery Scott assumed coverage on Corcept Therapeutics in a research report on Tuesday, December 20th. They issued a “sell” rating and a $7.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.75.

A number of institutional investors have recently modified their holdings of CORT. Fort Point Capital Partners LLC purchased a new position in shares of Corcept Therapeutics during the third quarter worth about $7,607,000. Essex Investment Management Co. LLC purchased a new position in shares of Corcept Therapeutics during the third quarter worth about $1,121,000. Oxford Asset Management raised its position in shares of Corcept Therapeutics by 49.2% in the fourth quarter. Oxford Asset Management now owns 367,634 shares of the company’s stock worth $2,669,000 after buying an additional 121,167 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Corcept Therapeutics during the third quarter worth about $310,000. Finally, Analytic Investors LLC raised its position in shares of Corcept Therapeutics by 65.5% in the third quarter. Analytic Investors LLC now owns 163,426 shares of the company’s stock worth $1,062,000 after buying an additional 64,697 shares during the last quarter. 43.57% of the stock is owned by hedge funds and other institutional investors.

About Corcept Therapeutics

Corcept Therapeutics Inc is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.

5 Day Chart for NASDAQ:CORT

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