Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Sells 2,200 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $70.22, for a total transaction of $154,484.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Daniel N. Swisher, Jr. also recently made the following trade(s):

• On Monday, February 10th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The stock was sold at an average price of $68.08, for a total value of $149,776.00.

Corcept Therapeutics Trading Down 1.7 %

Shares of CORT stock traded down $1.19 on Monday, reaching $67.43. 1,138,234 shares of the stock were exchanged, compared to its average volume of 1,122,282. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $117.33. The firm has a 50 day moving average of $65.70 and a two-hundred day moving average of $57.96. The stock has a market cap of $7.11 billion, a P/E ratio of 53.52 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. On average, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB raised its position in Corcept Therapeutics by 102.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 313 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $40,000. National Bank of Canada FI acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $42,000. Finally, USA Financial Formulas acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth about $54,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CORT shares. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. HC Wainwright raised their price target on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Piper Sandler upped their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. Finally, Truist Financial lifted their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.25.

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.