Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Sells $111,188.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Daniel N. Swisher, Jr. also recently made the following trade(s):

• On Tuesday, December 10th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The stock was sold at an average price of $59.46, for a total value of $130,812.00.
• On Monday, November 11th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00.

Corcept Therapeutics Stock Performance

CORT opened at $51.66 on Wednesday. The business has a 50 day moving average price of $54.90 and a two-hundred day moving average price of $44.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 41.00 and a beta of 0.56. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 47.7% on a year-over-year basis. Research analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CORT shares. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Piper Sandler lifted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Truist Financial lifted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and a consensus price target of $65.25.

Institutional Trading of Corcept Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CORT. State Street Corp grew its position in Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after buying an additional 19,893 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Corcept Therapeutics by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock worth $86,952,000 after acquiring an additional 108,658 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Corcept Therapeutics by 4.4% during the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after purchasing an additional 99,470 shares during the period. FMR LLC lifted its holdings in shares of Corcept Therapeutics by 24.6% during the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after purchasing an additional 269,074 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after purchasing an additional 352,947 shares during the period. 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.