Short Interest in Corcept Therapeutics Incorporated (NASDAQ:CORT) Decreases By 25.7%

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 12,290,000 shares, a decrease of 25.7% from the March 31st total of 16,530,000 shares. Currently, 13.2% of the company's shares are short sold. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is currently 7.9 days.

Insider Activity

In other Corcept Therapeutics news, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the completion of the sale, the insider now directly owns 85,622 shares in the company, valued at approximately $8,608,435.88. The trade was a 53.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $70.22, for a total value of $154,484.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,124 shares of company stock valued at $15,117,614. 20.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds have recently modified their holdings of the company. Black Diamond Financial LLC grew its holdings in shares of Corcept Therapeutics by 4.0% in the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock valued at $262,000 after acquiring an additional 200 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Corcept Therapeutics by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company's stock valued at $909,000 after purchasing an additional 230 shares during the period. Quadrant Capital Group LLC increased its position in shares of Corcept Therapeutics by 9.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company's stock valued at $150,000 after purchasing an additional 257 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Corcept Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company's stock worth $426,000 after purchasing an additional 268 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Corcept Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company's stock worth $1,374,000 after buying an additional 289 shares during the last quarter. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Up 1.8 %

Corcept Therapeutics stock traded up $1.29 during trading on Friday, hitting $72.77. 1,231,617 shares of the company were exchanged, compared to its average volume of 1,116,239. The company has a market capitalization of $7.72 billion, a P/E ratio of 57.75 and a beta of 0.22. The business's 50 day moving average is $65.70 and its 200 day moving average is $60.08. Corcept Therapeutics has a 52 week low of $23.02 and a 52 week high of $117.33. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million for the quarter, compared to analysts' expectations of $200.12 million. Analysts predict that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Canaccord Genuity Group raised their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Piper Sandler boosted their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. StockNews.com cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. HC Wainwright boosted their price target on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Finally, Truist Financial raised their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $143.25.

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.