Corcept Therapeutics (NASDAQ:CORT) Shares Down 3.3%

Corcept Therapeutics Incorporated (NASDAQ:CORT) fell 3.3% on Wednesday . The stock traded as low as $22.10 and last traded at $22.23. 98,229 shares traded hands during trading, a decline of 93% from the average session volume of 1,464,333 shares. The stock had previously closed at $23.00.

Analysts Set New Price Targets

Several research firms have recently weighed in on CORT. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday. Truist Financial boosted their price objective on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and an average price target of $39.30.

Corcept Therapeutics Stock Performance

The stock has a fifty day moving average of $23.86 and a 200-day moving average of $25.40. The company has a market cap of $2.31 billion, a PE ratio of 23.74 and a beta of 0.48.

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

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chief accounting officer now owns 6,774 shares of the company’s stock, valued at $176,124. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,783 shares of company stock worth $2,118,996. 19.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CORT. Norden Group LLC bought a new position in shares of Corcept Therapeutics in the 1st quarter worth $50,081,000. Norges Bank bought a new position in shares of Corcept Therapeutics in the 4th quarter worth $24,603,000. Intrinsic Edge Capital Management LLC bought a new position in shares of Corcept Therapeutics in the 4th quarter worth $15,164,000. FMR LLC raised its position in shares of Corcept Therapeutics by 102.4% in the 3rd quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock worth $18,634,000 after acquiring an additional 346,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Corcept Therapeutics by 2,922.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 324,271 shares of the biotechnology company’s stock worth $8,168,000 after acquiring an additional 313,543 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

About Corcept Therapeutics

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.