Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Sells $131,736.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Corcept Therapeutics Stock Down 5.4 %

CORT stock opened at $51.83 on Friday. The company has a fifty day moving average price of $46.46 and a 200 day moving average price of $36.80. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $61.66. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 41.14 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CORT. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Corcept Therapeutics in the 1st quarter worth approximately $18,426,000. Jupiter Asset Management Ltd. boosted its position in Corcept Therapeutics by 1,149.0% during the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock worth $18,753,000 after purchasing an additional 684,863 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Corcept Therapeutics in the first quarter valued at $14,670,000. FMR LLC increased its position in shares of Corcept Therapeutics by 24.6% in the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after buying an additional 269,074 shares in the last quarter. Finally, M&G PLC acquired a new position in shares of Corcept Therapeutics during the 3rd quarter worth $11,173,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CORT shares. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler increased their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Truist Financial increased their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $65.25.

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.