Corcept Therapeutics (NASDAQ:CORT) Insider Roberto Wandenkolk Vieira Sells 8,333 Shares of Company Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Roberto Vieira sold 8,333 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.10, for a total value of $967,461.30. Following the transaction, the insider owned 3,946 shares in the company, valued at approximately $458,130.60. This trade represents a 67.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Roberto Wandenkolk Vieira also recently made the following trade(s):

• On Wednesday, September 16th, Roberto Vieira sold 296 shares of Corcept Therapeutics stock. The shares were sold at an average price of $100.82, for a total value of $29,842.72.
• On Wednesday, September 2nd, Roberto Vieira sold 58,333 shares of Corcept Therapeutics stock. The shares were sold at an average price of $110.76, for a total transaction of $6,460,963.08.

Corcept Therapeutics Stock Up 5.0%

NASDAQ CORT traded up $5.80 during trading on Monday, reaching $122.03. 1,004,763 shares of the stock traded hands, compared to its average volume of 1,733,962. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $126.38. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 290.55 and a beta of 0.40. The stock’s 50-day moving average price is $113.94 and its 200 day moving average price is $81.87.

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, topping 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 net margin of 6.52% and a return on equity of 8.26%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Corcept Therapeutics during the second quarter worth about $1,080,964,000. Parallel Advisors LLC lifted its stake in Corcept Therapeutics by 2.5% in the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock valued at $160,329,000 after acquiring an additional 96,763 shares in the last quarter. Geode Capital Management LLC lifted its stake in Corcept Therapeutics by 38.0% in the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after acquiring an additional 734,646 shares in the last quarter. First Trust Advisors LP lifted its stake in Corcept Therapeutics by 213.5% in the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after acquiring an additional 1,480,059 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in Corcept Therapeutics by 4.0% during the 4th quarter. TD Asset Management Inc now owns 994,844 shares of the biotechnology company’s stock worth $34,621,000 after acquiring an additional 38,708 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CORT shares. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings raised Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research report on Monday, July 27th. Finally, Truist Financial initiated coverage on Corcept Therapeutics in a research report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.17.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.