Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $82.86, for a total transaction of $3,314,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,901,985 shares in the company, valued at approximately $240,458,477.10. This represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Corcept Therapeutics Stock Up 0.9%
Shares of NASDAQ CORT traded up $0.59 during mid-day trading on Friday, hitting $69.60. 972,774 shares of the stock traded hands, compared to its average volume of 1,147,007. Corcept Therapeutics Incorporated has a 52 week low of $28.04 and a 52 week high of $117.33. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 55.24 and a beta of 0.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a fifty day moving average price of $72.48 and a 200-day moving average price of $63.73.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $157.21 million during the quarter, compared to analyst estimates of $177.93 million. During the same quarter last year, the company earned $0.25 EPS. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.
Institutional Trading of Corcept Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Modern Wealth Management LLC bought a new position in Corcept Therapeutics during the 1st quarter valued at about $330,000. Strs Ohio bought a new position in shares of Corcept Therapeutics in the first quarter worth about $1,531,000. Advisors Capital Management LLC purchased a new position in Corcept Therapeutics during the first quarter valued at approximately $251,000. Iron Gate Global Advisors LLC bought a new position in Corcept Therapeutics in the 1st quarter worth $400,000. Finally, Acadian Asset Management LLC boosted its holdings in Corcept Therapeutics by 45.4% in the 1st quarter. Acadian Asset Management LLC now owns 166,490 shares of the biotechnology company's stock worth $19,011,000 after buying an additional 52,000 shares during the period. 93.61% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently commented on CORT shares. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright dropped their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Piper Sandler raised their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $138.25.
View Our Latest Stock Analysis on CORT
Corcept Therapeutics Company Profile
(
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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.
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