Corcept Therapeutics (NASDAQ:CORT) Shares Down 3.3%

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s share price traded down 3.3% during mid-day trading on Wednesday . The company traded as low as $22.10 and last traded at $22.23. 98,229 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,464,333 shares. The stock had previously closed at $23.00.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday. Finally, Truist Financial upped their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $39.30.

Corcept Therapeutics Stock Down 1.2 %

The company’s 50-day moving average is $23.86 and its two-hundred day moving average is $25.40. The company has a market capitalization of $2.31 billion, a P/E ratio of 23.74 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. Corcept Therapeutics’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 0.92 EPS for the current year.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chief accounting officer now owns 6,774 shares of the company’s stock, valued at $176,124. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Insiders sold a total of 83,783 shares of company stock valued at $2,118,996 over the last quarter. 19.80% of the stock is owned by corporate insiders.

Institutional Trading of Corcept Therapeutics

Institutional investors have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC purchased a new stake in shares of Corcept Therapeutics during the third quarter valued at approximately $27,000. GAMMA Investing LLC boosted its stake in shares of Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 579 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $32,000. Gladius Capital Management LP purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $36,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

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.