Corcept Therapeutics (NASDAQ:CORT) Director Sells $1,106,900.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $110.69, for a total transaction of $1,106,900.00. Following the completion of the transaction, the director directly owned 1,064,543 shares of the company’s stock, valued at approximately $117,834,264.67. This represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Corcept Therapeutics Trading Up 0.9%

Shares of NASDAQ:CORT traded up $0.99 on Wednesday, hitting $111.81. 648,684 shares of the company were exchanged, compared to its average volume of 1,475,606. The firm has a market capitalization of $12.09 billion, a P/E ratio of 266.22 and a beta of 0.45. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $126.38. The stock’s 50 day moving average price is $107.38 and its 200 day moving average price is $73.87.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue was up 31.7% compared to the same quarter last year. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC purchased a new position in Corcept Therapeutics during the second quarter valued at $645,000. Tidal Investments LLC increased its stake in shares of Corcept Therapeutics by 9.2% during the second quarter. Tidal Investments LLC now owns 24,218 shares of the biotechnology company’s stock worth $2,106,000 after purchasing an additional 2,039 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Corcept Therapeutics during the 2nd quarter worth about $558,000. NewEdge Advisors LLC lifted its stake in Corcept Therapeutics by 17.9% in the 2nd quarter. NewEdge Advisors LLC now owns 11,041 shares of the biotechnology company’s stock valued at $960,000 after buying an additional 1,677 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Corcept Therapeutics by 568.4% in the 2nd quarter. IFP Advisors Inc now owns 909 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 773 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented 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 on the stock. in a report on Monday, July 27th. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Canaccord Genuity Group upped their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. UBS Group set a $135.00 price target on Corcept Therapeutics in a research report on Thursday, May 28th. Finally, Piper Sandler reissued an “overweight” rating and issued a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering and developing medicines that modulate the effects of the stress hormone cortisol. The company’s research centers on the glucocorticoid receptor, which regulates cortisol activity and may play a role in metabolic, psychiatric, oncologic and other serious diseases.

Corcept’s commercial product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.