Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. 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 firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $72.30, for a total value of $159,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 shares were 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 shares were sold at an average price of $70.61, for a total value of $155,342.00.

Corcept Therapeutics Price Performance

Shares of CORT traded down $0.25 during mid-day trading on Friday, hitting $71.75. The stock had a trading volume of 692,631 shares, compared to its average volume of 861,727. The firm has a market cap of $7.56 billion, a P/E ratio of 63.50 and a beta of 0.20. The business has a fifty day moving average price of $71.22 and a 200-day moving average price of $69.33. Corcept Therapeutics Incorporated has a 52 week low of $33.34 and a 52 week high of $117.33.

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

Wall Street Analyst Weigh In

CORT has been the topic of a number of recent research reports. Truist Financial set a $135.00 target price on Corcept Therapeutics in a report on Tuesday, May 6th. Canaccord Genuity Group dropped their price target on Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Piper Sandler dropped their price target on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. HC Wainwright dropped their price target 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, Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.50.

Institutional Trading of Corcept Therapeutics

Several hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Corcept Therapeutics in the second quarter valued at $28,000. Huntington National Bank lifted its holdings 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 purchasing an additional 168 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Corcept Therapeutics during the 4th quarter worth about $40,000. Brooklyn Investment Group lifted its holdings 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 purchasing an additional 186 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in Corcept Therapeutics during the 2nd quarter worth about $52,000. 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.