Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Sells 2,200 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total transaction of $130,812.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Daniel N. Swisher, Jr. also recently made the following trade(s):

• On Monday, November 11th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00.

Corcept Therapeutics Trading Down 6.2 %

NASDAQ:CORT opened at $56.33 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $62.22. The firm has a fifty day simple moving average of $52.86 and a 200-day simple moving average of $40.96. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5.90 billion, a P/E ratio of 44.70 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The company’s revenue was up 47.7% compared to the same quarter last year. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in shares of Corcept Therapeutics by 1.0% in the third quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company’s stock valued at $10,998,000 after acquiring an additional 2,475 shares during the period. World Investment Advisors LLC acquired a new position in Corcept Therapeutics in the 3rd quarter valued at about $503,000. Geode Capital Management LLC grew its holdings in Corcept Therapeutics by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after buying an additional 99,470 shares during the period. Executive Wealth Management LLC purchased a new stake in Corcept Therapeutics in the 3rd quarter valued at about $2,804,000. Finally, Tanaka Capital Management Inc. grew its holdings in shares of Corcept Therapeutics by 11.8% during the 3rd quarter. Tanaka Capital Management Inc. now owns 112,136 shares of the biotechnology company’s stock worth $5,190,000 after purchasing an additional 11,860 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CORT has been the subject of several research analyst reports. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Truist Financial lifted their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics has a consensus rating of “Buy” and a consensus target price of $65.25.

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.