Corcept Therapeutics (NASDAQ:CORT) Insider Roberto Wandenkolk Vieira Sells 58,333 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Roberto Wandenkolk Vieira sold 58,333 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $110.76, for a total transaction of $6,460,963.08. Following the sale, the insider directly owned 4,242 shares of the company’s stock, valued at $469,843.92. This represents a 93.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Corcept Therapeutics Trading Up 2.1%

CORT opened at $112.80 on Friday. The stock has a market capitalization of $12.19 billion, a P/E ratio of 268.58 and a beta of 0.45. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $126.38. The firm’s fifty day simple moving average is $103.65 and its 200 day simple moving average is $69.59.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. The firm had revenue of $256.15 million during the quarter, compared to analysts’ expectations 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 was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CORT has been the topic of several research reports. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. HC Wainwright boosted their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Monday, July 27th. Finally, Truist Financial assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $138.17.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Corcept Therapeutics during the 2nd quarter worth approximately $1,080,964,000. California State Teachers Retirement System grew its stake in shares of Corcept Therapeutics by 8,572.7% in the second quarter. California State Teachers Retirement System now owns 9,611,888 shares of the biotechnology company’s stock valued at $835,754,000 after buying an additional 9,501,059 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Corcept Therapeutics by 2.5% in the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock valued at $160,329,000 after acquiring an additional 96,763 shares during the period. State Street Corp grew its position in shares of Corcept Therapeutics by 0.5% in the 4th quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock valued at $103,915,000 after acquiring an additional 15,656 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Corcept Therapeutics by 38.0% during the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock worth $92,892,000 after purchasing an additional 734,646 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

About Corcept Therapeutics

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.