Corcept Therapeutics (NASDAQ:CORT) Director James Wilson Sells 10,000 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director James Wilson sold 10,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $111.43, for a total value of $1,114,300.00. Following the completion of the transaction, the director owned 1,074,543 shares in the company, valued at $119,736,326.49. This trade represents a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock traded up $0.83 during trading on Tuesday, hitting $118.00. 803,104 shares of the stock traded hands, compared to its average volume of 1,550,789. The stock has a market cap of $12.76 billion, a P/E ratio of 280.96 and a beta of 0.45. The company has a fifty day moving average price of $94.21 and a two-hundred day moving average price of $62.59. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $122.21.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.34. The company had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business’s revenue was up 31.7% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CORT has been the subject of several recent analyst reports. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a research note on Monday, July 27th. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. HC Wainwright increased their price target on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 30th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research report on Thursday, May 28th. Finally, Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.17.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Torren Management LLC bought a new position in Corcept Therapeutics in the 4th quarter worth approximately $25,000. Advisory Services Network LLC bought a new stake in Corcept Therapeutics during the 3rd quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Corcept Therapeutics during the 2nd quarter worth about $27,000. Atlas Capital Advisors Inc. acquired a new position in Corcept Therapeutics during the 4th quarter valued at about $31,000. Finally, State of Wyoming lifted its position in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 186 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.