Corcept Therapeutics (NASDAQ:CORT) Director James Wilson Sells 10,000 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $111.43, for a total transaction of $1,114,300.00. Following the completion of the transaction, the director directly owned 1,074,543 shares of the company’s stock, valued at approximately $119,736,326.49. The trade was a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $118.10 on Wednesday. The business’s 50 day moving average is $95.03 and its two-hundred day moving average is $63.09. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $122.21. The stock has a market capitalization of $12.77 billion, a P/E ratio of 281.20 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.34. The business had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. As a group, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corcept Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Alberta Investment Management Corp purchased a new stake in Corcept Therapeutics in the second quarter worth about $9,843,000. Avidity Partners Management LP purchased a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $766,000. Norges Bank purchased a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $24,213,000. Caitong International Asset Management Co. Ltd acquired a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $8,757,000. Finally, BOKF NA acquired a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $1,061,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CORT. Truist Financial started coverage on shares of Corcept Therapeutics in a research note on Tuesday. They set a “buy” rating and a $164.00 price objective for the company. Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research note on Monday, July 27th. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.