Corcept Therapeutics Incorporated (CORT) Insider Robert S. Fishman Sells 8,000 Shares

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Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Robert S. Fishman sold 8,000 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $13.74, for a total transaction of $109,920.00. Following the completion of the sale, the insider now owns 8,000 shares of the company’s stock, valued at approximately $109,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of CORT traded down $0.37 during trading hours on Friday, hitting $13.01. The company had a trading volume of 1,231,630 shares, compared to its average volume of 1,269,341. The firm has a market capitalization of $1.60 billion, a PE ratio of 29.57 and a beta of 1.80. Corcept Therapeutics Incorporated has a 12 month low of $11.21 and a 12 month high of $25.96.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, November 1st. The biotechnology company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). The company had revenue of $64.45 million during the quarter, compared to the consensus estimate of $67.42 million. Corcept Therapeutics had a net margin of 63.79% and a return on equity of 32.96%. Corcept Therapeutics’s revenue for the quarter was up 50.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, sell-side analysts expect that Corcept Therapeutics Incorporated will post 0.6 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Corcept Therapeutics by 10.9% in the third quarter. BlackRock Inc. now owns 15,745,397 shares of the biotechnology company’s stock valued at $220,750,000 after purchasing an additional 1,545,671 shares during the period. Ingalls & Snyder LLC increased its position in Corcept Therapeutics by 7.3% during the second quarter. Ingalls & Snyder LLC now owns 7,316,990 shares of the biotechnology company’s stock worth $115,023,000 after acquiring an additional 499,450 shares during the period. Dimensional Fund Advisors LP increased its position in Corcept Therapeutics by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,653,862 shares of the biotechnology company’s stock worth $25,999,000 after acquiring an additional 77,213 shares during the period. Bank of New York Mellon Corp increased its position in Corcept Therapeutics by 8.5% during the third quarter. Bank of New York Mellon Corp now owns 1,299,714 shares of the biotechnology company’s stock worth $18,222,000 after acquiring an additional 101,762 shares during the period. Finally, Northern Trust Corp increased its position in Corcept Therapeutics by 11.7% during the second quarter. Northern Trust Corp now owns 1,247,442 shares of the biotechnology company’s stock worth $19,610,000 after acquiring an additional 130,839 shares during the period. 75.20% of the stock is currently owned by institutional investors.

A number of brokerages have commented on CORT. ValuEngine cut shares of Corcept Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Monday, August 13th. B. Riley cut their price target on shares of Corcept Therapeutics from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, August 13th. BidaskClub cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. Cantor Fitzgerald reissued a “hold” rating and issued a $17.00 price objective on shares of Corcept Therapeutics in a research report on Friday, November 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $11.00 price objective (down from $20.00) on shares of Corcept Therapeutics in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Corcept Therapeutics presently has an average rating of “Hold” and a consensus target price of $21.83.

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About Corcept Therapeutics

Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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Insider Buying and Selling by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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