Corcept Therapeutics (NASDAQ:CORT) Sets New 52-Week Low at $20.84

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $20.84 and last traded at $22.22, with a volume of 2151178 shares trading hands. The stock had previously closed at $22.95.

Wall Street Analyst Weigh In

CORT has been the subject of a number of research analyst reports. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 17th. Truist Financial raised their target price on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, HC Wainwright reduced their price objective on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $37.30.

Corcept Therapeutics Stock Performance

The company has a market cap of $2.31 billion, a price-to-earnings ratio of 22.03 and a beta of 0.48. The company has a 50-day simple moving average of $23.93 and a 200-day simple moving average of $25.47.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. Corcept Therapeutics’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.92 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the sale, the insider now directly owns 74,455 shares in the company, valued at $1,933,596.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the sale, the insider now directly owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 over the last three months. 18.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CORT. Vanguard Group Inc. lifted its stake in shares of Corcept Therapeutics by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 9,537,532 shares of the biotechnology company’s stock valued at $309,779,000 after buying an additional 239,887 shares during the period. Parallel Advisors LLC raised its position in Corcept Therapeutics by 1.2% in the fourth quarter. Parallel Advisors LLC now owns 3,768,245 shares of the biotechnology company’s stock worth $122,393,000 after purchasing an additional 44,762 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Corcept Therapeutics during the first quarter worth approximately $50,081,000. Boston Trust Walden Corp increased its holdings in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Boston Trust Walden Corp now owns 1,846,924 shares of the biotechnology company’s stock worth $59,988,000 after buying an additional 19,877 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Corcept Therapeutics by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 900,444 shares of the biotechnology company’s stock worth $29,246,000 after buying an additional 39,111 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.