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 company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $83.20, for a total value of $832,000.00. Following the completion of the sale, the director directly owned 1,094,543 shares of the company’s stock, valued at approximately $91,065,977.60. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Corcept Therapeutics Trading Down 2.3%

Shares of NASDAQ:CORT traded down $1.84 during mid-day trading on Thursday, reaching $79.91. The stock had a trading volume of 1,875,364 shares, compared to its average volume of 1,690,858. The firm has a market cap of $8.58 billion, a PE ratio of 228.32 and a beta of 0.50. The firm has a 50 day simple moving average of $58.15 and a two-hundred day simple moving average of $52.14. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $164.90 million for the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CORT. HC Wainwright boosted their price target on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a research note on Monday. UBS Group set a $135.00 target price on Corcept Therapeutics in a report on Thursday, May 28th. Piper Sandler increased their price target on Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CORT. Parallel Advisors LLC increased its holdings in Corcept Therapeutics by 2.5% during the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after purchasing an additional 96,763 shares in the last quarter. State Street Corp lifted its holdings in shares of Corcept Therapeutics by 0.5% in the fourth quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock valued at $103,915,000 after purchasing an additional 15,656 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Corcept Therapeutics by 38.0% in the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after purchasing an additional 734,646 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Corcept Therapeutics by 213.5% in the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after purchasing an additional 1,480,059 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Corcept Therapeutics by 34.1% during the fourth quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock worth $55,404,000 after buying an additional 405,081 shares during the period. 93.61% of the stock is 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.