Gary Charles Robb Sells 11,000 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the transaction, the insider now directly owns 22,772 shares of the company’s stock, valued at $1,053,888.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Gary Charles Robb also recently made the following trade(s):

• On Monday, August 26th, Gary Charles Robb sold 3,101 shares of Corcept Therapeutics stock. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71.

Corcept Therapeutics Trading Down 1.9 %

CORT stock opened at $45.86 on Thursday. The firm has a 50-day moving average of $36.87 and a two-hundred day moving average of $31.09. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $47.71. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 43.26 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The firm’s revenue was up 39.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CORT shares. HC Wainwright lifted their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Truist Financial boosted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler raised their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics has an average rating of “Buy” and an average price target of $56.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Corcept Therapeutics by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after purchasing an additional 28,250 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Corcept Therapeutics by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock worth $86,952,000 after buying an additional 108,658 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Corcept Therapeutics during the 1st quarter valued at approximately $50,081,000. Jupiter Asset Management Ltd. lifted its holdings in Corcept Therapeutics by 1,149.0% in the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after acquiring an additional 684,863 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Corcept Therapeutics in the first quarter valued at approximately $18,426,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.