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

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $111.43, for a total value of $1,114,300.00. Following the completion of the transaction, the director directly owned 1,074,543 shares in the company, valued at approximately $119,736,326.49. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Corcept Therapeutics Stock Up 0.7%

Shares of Corcept Therapeutics stock traded up $0.83 during trading on Tuesday, reaching $118.00. 803,104 shares of the company were exchanged, compared to its average volume of 1,550,789. The business has a 50-day moving average price of $94.21 and a 200-day moving average price of $62.59. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 280.96 and a beta of 0.45. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $122.21.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.34. The company had revenue of $256.15 million during the quarter, compared to analyst estimates 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 for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 EPS. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

A number of large investors have recently bought and sold shares of CORT. BlackRock Inc. bought a new position in shares of Corcept Therapeutics in the 2nd quarter valued at about $1,080,964,000. 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. Geode Capital Management LLC lifted its stake in Corcept Therapeutics by 38.0% in the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after purchasing an additional 734,646 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Corcept Therapeutics by 213.5% in the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after purchasing an additional 1,480,059 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wolfe Research lowered shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a report on Monday, July 27th. HC Wainwright lifted their target price on Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Truist Financial started coverage on Corcept Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $164.00 target price for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. Finally, Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.17.

Corcept Therapeutics Company Profile

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.