Planning Capital Management Corp Sells 2,000 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Planning Capital Management Corp reduced its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 64.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,100 shares of the biotechnology company’s stock after selling 2,000 shares during the quarter. Planning Capital Management Corp’s holdings in Corcept Therapeutics were worth $51,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Corcept Therapeutics in the 3rd quarter valued at about $25,000. Park Place Capital Corp bought a new position in shares of Corcept Therapeutics in the second quarter worth approximately $32,000. Atwood & Palmer Inc. purchased a new position in Corcept Therapeutics during the 2nd quarter valued at $35,000. Kathleen S. Wright Associates Inc. purchased a new position in Corcept Therapeutics during the 3rd quarter valued at $36,000. Finally, Blue Trust Inc. boosted its holdings in shares of Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 1,962 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $54.79 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $61.66. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $46.11 and a 200-day simple moving average of $36.61. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 43.48 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

CORT has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Truist Financial raised their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Piper Sandler lifted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $65.25.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the transaction, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. This trade represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,301 shares of company stock valued at $1,594,253. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics 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.