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

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $83.20, for a total value of $832,000.00. Following the completion of the transaction, the director owned 1,094,543 shares in the company, valued at $91,065,977.60. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $79.91 on Friday. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $91.00. The stock has a 50-day moving average price of $59.68 and a 200 day moving average price of $52.34. The stock has a market capitalization of $8.58 billion, a P/E ratio of 228.32 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The business had revenue of $164.90 million during the quarter, compared to analysts’ expectations of $185.83 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts predict that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corcept Therapeutics

Several large investors have recently bought and sold shares of CORT. First Trust Advisors LP lifted its position in Corcept Therapeutics by 213.5% during the first 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. AQR Capital Management LLC increased its holdings in shares of Corcept Therapeutics by 546.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after buying an additional 1,274,215 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 worth $92,892,000 after buying an additional 734,646 shares during the last quarter. Norges Bank purchased a new stake in shares of Corcept Therapeutics during the 4th quarter valued at about $24,213,000. Finally, JPMorgan Chase & Co. raised its position in shares of Corcept Therapeutics by 223.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock valued at $70,632,000 after buying an additional 587,053 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. HC Wainwright boosted their price target on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

About Corcept Therapeutics

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.