Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Sells 2,200 Shares

Key Points

• Corcept Therapeutics Director Daniel N. Swisher, Jr. sold 2,200 shares at an average price of $72.30, totaling $159,060, marking a continued trend of stock sales by the director.
• The company's stock saw a recent trade increase of $1.62, hitting $73.59, with a market capitalization of $7.75 billion.
• Corcept Therapeutics reported a quarterly earnings per share (EPS) of $0.29, exceeding estimates and reflecting an 18.7% increase in revenue compared to the previous year.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $72.30, for a total value of $159,060.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, July 10th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The stock was sold at an average price of $71.08, for a total value of $156,376.00.
• On Tuesday, June 10th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.61, for a total value of $155,342.00.

Corcept Therapeutics Price Performance

NASDAQ CORT traded up $1.62 on Tuesday, hitting $73.59. 514,617 shares of the stock were exchanged, compared to its average volume of 906,167. Corcept Therapeutics Incorporated has a 52-week low of $33.34 and a 52-week high of $117.33. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 65.12 and a beta of 0.20. The company's 50-day moving average price is $71.06 and its two-hundred day moving average price is $69.09.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The firm had revenue of $194.43 million for the quarter, compared to analysts' expectations of $199.40 million. During the same period in the previous year, the company posted $0.32 EPS. The company's quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CORT. Canaccord Genuity Group decreased their price target on shares of Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. HC Wainwright decreased their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Piper Sandler decreased their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $134.50.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently modified their holdings of CORT. Huntington National Bank lifted its position in Corcept Therapeutics by 54.0% during the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 168 shares during the last quarter. Focus Partners Wealth lifted its position in Corcept Therapeutics by 0.5% during the 1st quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company's stock worth $3,797,000 after acquiring an additional 170 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Corcept Therapeutics by 1.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,951 shares of the biotechnology company's stock worth $730,000 after acquiring an additional 180 shares during the last quarter. Brooklyn Investment Group lifted its position in Corcept Therapeutics by 99.5% during the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock worth $43,000 after acquiring an additional 186 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in Corcept Therapeutics by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company's stock worth $3,237,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

About Corcept Therapeutics

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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