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

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph K. Belanoff sold 2,924 shares of Corcept Therapeutics stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the sale, the chief executive officer now directly owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This represents a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Corcept Therapeutics Price Performance

Shares of CORT stock traded down $3.08 during trading on Tuesday, hitting $55.99. The company had a trading volume of 1,889,312 shares, compared to its average volume of 1,005,169. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a market capitalization of $5.91 billion, a P/E ratio of 44.44 and a beta of 0.58. The stock’s 50-day moving average price is $60.12 and its 200 day moving average price is $51.82. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00.

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

Analysts Set New Price Targets

CORT has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a research report on Thursday, February 27th. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler boosted their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $99.75.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CORT. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the third quarter valued at approximately $25,000. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $27,000. Canada Pension Plan Investment Board acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $40,000. National Bank of Canada FI acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth $42,000. Finally, USA Financial Formulas acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth $54,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

About Corcept Therapeutics

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.