Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Sells 27,352 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director David L. Mahoney sold 27,352 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $74.23, for a total transaction of $2,030,338.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Corcept Therapeutics Stock Up 1.9%

Shares of CORT opened at $76.22 on Wednesday. Corcept Therapeutics Incorporated has a 52 week low of $27.30 and a 52 week high of $117.33. The firm has a market cap of $8.08 billion, a P/E ratio of 60.49 and a beta of 0.22. The firm’s 50-day simple moving average is $69.39 and its 200 day simple moving average is $62.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same quarter in the prior year, the business earned $0.25 EPS. Corcept Therapeutics’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CORT. HC Wainwright lowered their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $138.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC bought a new stake in Corcept Therapeutics in the 4th quarter valued at about $200,000. Nisa Investment Advisors LLC boosted its holdings in Corcept Therapeutics by 8.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,665 shares of the biotechnology company’s stock valued at $537,000 after purchasing an additional 814 shares during the period. Inspire Investing LLC bought a new stake in Corcept Therapeutics in the 4th quarter valued at about $807,000. Linden Thomas Advisory Services LLC boosted its holdings in Corcept Therapeutics by 2.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 63,224 shares of the biotechnology company’s stock valued at $3,186,000 after purchasing an additional 1,300 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Corcept Therapeutics by 47.8% in the 4th quarter. Blue Trust Inc. now owns 17,225 shares of the biotechnology company’s stock valued at $797,000 after purchasing an additional 5,567 shares during the period. Institutional investors and hedge funds 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.