Corcept Therapeutics (NASDAQ:CORT) Trading Up 7.5%

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s share price was up 7.5% on Tuesday . The company traded as high as $24.23 and last traded at $23.98. Approximately 794,321 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 1,467,607 shares. The stock had previously closed at $22.30.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CORT shares. Truist Financial raised their target price on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and an average price target of $39.30.

Corcept Therapeutics Stock Up 4.1 %

The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 24.93 and a beta of 0.48. The business’s 50 day simple moving average is $23.89 and its 200 day simple moving average is $25.44.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $135.41 million during the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. Corcept Therapeutics’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the sale, the insider now owns 7,314 shares in the company, valued at approximately $190,164. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the completion of the sale, the insider now owns 7,314 shares in the company, valued at approximately $190,164. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics 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 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. In the last 90 days, insiders sold 83,783 shares of company stock worth $2,118,996. 18.60% of the stock is owned by insiders.

Institutional Trading of Corcept Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Linden Thomas Advisory Services LLC raised its stake in Corcept Therapeutics by 0.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock worth $1,529,000 after purchasing an additional 368 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Corcept Therapeutics by 27.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 448 shares during the period. Nisa Investment Advisors LLC increased its holdings in Corcept Therapeutics by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 500 shares during the period. GAMMA Investing LLC increased its holdings in Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 579 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Corcept Therapeutics by 1.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company’s stock valued at $1,444,000 after buying an additional 641 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

About Corcept Therapeutics

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.