Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph K. Belanoff Sells 1,974 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph K. Belanoff sold 1,974 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.83, for a total transaction of $120,078.42. Following the transaction, the chief executive officer now owns 3,017,437 shares in the company, valued at approximately $183,550,692.71. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Corcept Therapeutics Stock Performance

CORT opened at $57.11 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company has a market cap of $6.03 billion, a PE ratio of 45.33 and a beta of 0.61. The stock has a 50-day moving average of $61.86 and a 200-day moving average of $54.31. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $75.00.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CORT. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $27,000. Canada Pension Plan Investment Board acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth about $40,000. National Bank of Canada FI bought a new stake in Corcept Therapeutics during the 4th quarter valued at approximately $42,000. USA Financial Formulas acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $54,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Corcept Therapeutics in the 4th quarter worth approximately $58,000. Institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the subject of a number of research reports. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler boosted their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.75.

Corcept Therapeutics Company 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.