Joseph K. Belanoff Sells 2,924 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph K. Belanoff sold 2,924 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the sale, the chief executive officer now owns 3,019,411 shares of the company’s stock, valued at $183,912,324.01. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $55.49 on Thursday. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 44.04 and a beta of 0.58. 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 business’s 50-day moving average price is $60.20 and its 200-day moving average price is $51.97. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $115.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, February 27th. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Piper Sandler increased their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.75.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds have recently modified their holdings of the business. Kestra Investment Management LLC bought a new position in Corcept Therapeutics during the 4th quarter worth $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Corcept Therapeutics in the third quarter valued at about $25,000. Canada Pension Plan Investment Board bought a new position in shares of Corcept Therapeutics during the fourth quarter worth about $40,000. National Bank of Canada FI acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth approximately $42,000. Finally, USA Financial Formulas bought a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.