Corcept Therapeutics (NASDAQ:CORT) Stock Price Down 4.5%

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) dropped 4.5% on Friday . The stock traded as low as $23.11 and last traded at $23.92. Approximately 356,189 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,459,024 shares. The stock had previously closed at $25.06.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday. Truist Financial lifted their price objective on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HC Wainwright increased their target price on shares of Corcept Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $40.10.

Corcept Therapeutics Price Performance

The company has a fifty day moving average price of $23.97 and a 200 day moving average price of $25.20. The stock has a market cap of $2.55 billion, a P/E ratio of 23.13 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. The firm had revenue of $146.80 million for the quarter, compared to the consensus estimate of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The business’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. As a group, sell-side analysts expect that Corcept Therapeutics Incorporated will post 0.98 earnings per share for the current fiscal year.

Insider Activity

In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the transaction, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Sean Maduck sold 27,068 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the sale, the insider now directly owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The disclosure for this sale can be found here. Insiders have sold 81,583 shares of company stock worth $2,070,596 over the last 90 days. 20.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently made changes to their positions in the business. FinTrust Capital Advisors LLC purchased a new stake in Corcept Therapeutics during the third quarter worth about $27,000. GAMMA Investing LLC increased its stake in shares of Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $32,000. Gladius Capital Management LP purchased a new position in Corcept Therapeutics in the fourth quarter valued at approximately $36,000. Finally, Planned Solutions Inc. bought a new position in Corcept Therapeutics during the fourth quarter valued at $45,000. 93.61% of the stock is currently owned by institutional investors.

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.