Corcept Therapeutics (NASDAQ:CORT) Director David Mahoney Sells 103,606 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director David Mahoney sold 103,606 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $118.25, for a total value of $12,251,409.50. Following the completion of the sale, the director owned 1,133,539 shares in the company, valued at approximately $134,040,986.75. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $121.05 on Friday. The business has a 50-day moving average of $96.60 and a two-hundred day moving average of $64.19. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 288.22 and a beta of 0.45. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $122.21.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million for the quarter, compared to the consensus estimate of $221.15 million. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Truist Financial started coverage on shares of Corcept Therapeutics in a report on Tuesday. They set a “buy” rating and a $164.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. Finally, UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.17.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CORT. Torren Management LLC purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $25,000. Advisory Services Network LLC purchased a new stake in Corcept Therapeutics in the 3rd quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Corcept Therapeutics in the 2nd quarter valued at $27,000. Atlas Capital Advisors Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter worth $31,000. Finally, State of Wyoming boosted its stake in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.