Corcept Therapeutics (NASDAQ:CORT) Director Kimberly Park Sells 26,685 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Kimberly Park sold 26,685 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $122.55, for a total transaction of $3,270,246.75. Following the completion of the transaction, the director directly owned 30,000 shares of the company’s stock, valued at approximately $3,676,500. This trade represents a 47.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $113.88 on Friday. The company’s 50-day moving average price is $101.17 and its two-hundred day moving average price is $67.37. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $126.38. The stock has a market capitalization of $12.31 billion, a PE ratio of 271.15 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. The company had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CORT. Corient Private Wealth LP raised its stake in Corcept Therapeutics by 108.4% during the second quarter. Corient Private Wealth LP now owns 12,198 shares of the biotechnology company’s stock worth $1,061,000 after buying an additional 6,345 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Corcept Therapeutics during the 2nd quarter worth approximately $2,311,000. California State Teachers Retirement System raised its position in shares of Corcept Therapeutics by 8,572.7% during the second quarter. California State Teachers Retirement System now owns 9,611,888 shares of the biotechnology company’s stock worth $835,754,000 after purchasing an additional 9,501,059 shares during the period. Wedmont Private Capital acquired a new position in Corcept Therapeutics during the second quarter worth $288,000. Finally, HB Wealth Management LLC bought a new position in Corcept Therapeutics in the 2nd quarter valued at about $451,000. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Canaccord Genuity Group upped their price target 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. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Truist Financial initiated coverage on shares of Corcept Therapeutics in a research note on Tuesday, August 18th. They issued a “buy” rating and a $164.00 price objective for the company. Finally, HC Wainwright boosted their price objective 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. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $138.17.

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.