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

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $114.81, for a total value of $1,148,100.00. Following the completion of the transaction, the director directly owned 1,054,543 shares in the company, valued at approximately $121,072,081.83. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Corcept Therapeutics Trading Down 2.8%

CORT stock traded down $3.21 during trading on Friday, hitting $110.16. The company had a trading volume of 849,667 shares, compared to its average volume of 1,486,203. The business has a 50-day moving average of $115.67 and a 200-day moving average of $86.52. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $126.38. The stock has a market cap of $11.91 billion, a PE ratio of 262.29 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. Research analysts forecast that Corcept Therapeutics Incorporated will post 1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Truist Financial assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price objective for the company. Wolfe Research downgraded 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 research note on Monday, July 27th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $165.00 price target on shares of Corcept Therapeutics in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Corcept Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $138.17.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Corcept Therapeutics in the second quarter valued at approximately $1,080,964,000. Parallel Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 2.5% during the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after buying an additional 96,763 shares in the last quarter. First Trust Advisors LP grew its position in shares of Corcept Therapeutics by 213.5% during the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after buying an additional 1,480,059 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter worth approximately $49,185,000. Finally, Bank of America Corp DE acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter worth approximately $28,569,000. 93.61% of the stock is currently owned by institutional investors.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.