Corcept Therapeutics (NASDAQ:CORT) Stock Price Down 9.3% – Should You Sell?

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s stock price was down 9.3% during trading on Thursday . The company traded as low as $67.77 and last traded at $66.70. Approximately 296,142 shares changed hands during trading, a decline of 64% from the average daily volume of 825,079 shares. The stock had previously closed at $73.53.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CORT shares. Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a report on Friday, February 7th. Finally, StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $88.25.

Corcept Therapeutics Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a fifty day moving average of $59.13 and a 200-day moving average of $50.46. The firm has a market capitalization of $6.66 billion, a PE ratio of 50.43 and a beta of 0.58.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock valued at $1,399,576 over the last three months. 20.50% of the stock is currently owned by insiders.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics during the 4th quarter valued at $27,000. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the 3rd quarter valued at $25,000. Canada Pension Plan Investment Board acquired a new position in Corcept Therapeutics during the 4th quarter valued at $40,000. National Bank of Canada FI acquired a new position in Corcept Therapeutics during the 4th quarter valued at $42,000. Finally, USA Financial Formulas acquired a new position in Corcept Therapeutics during the 4th quarter valued at $54,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

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.