Roberto Wandenkolk Vieira Sells 58,333 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Roberto Wandenkolk Vieira sold 58,333 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $110.76, for a total value of $6,460,963.08. Following the transaction, the insider owned 4,242 shares of the company’s stock, valued at approximately $469,843.92. This represents a 93.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $111.62 on Friday. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $126.38. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 265.77 and a beta of 0.45. The business has a 50 day simple moving average of $104.13 and a 200 day simple moving average of $69.89.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. The company had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Corcept Therapeutics during the 2nd quarter worth about $1,080,964,000. California State Teachers Retirement System raised its stake in shares of Corcept Therapeutics by 8,572.7% in the second quarter. California State Teachers Retirement System now owns 9,611,888 shares of the biotechnology company’s stock worth $835,754,000 after acquiring an additional 9,501,059 shares during the last quarter. First Trust Advisors LP raised its stake 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 worth $87,609,000 after acquiring an additional 1,480,059 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Corcept Therapeutics by 546.9% during the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Corcept Therapeutics by 38.0% during 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 during the last quarter. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CORT shares. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research report on Monday, July 27th. Piper Sandler reissued an “overweight” rating and set a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Truist Financial assumed coverage on Corcept Therapeutics in a research report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 target price for the company. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

Corcept Therapeutics Company Profile

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.