Daniel Swisher Jr Sells 2,200 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Key Points

• Daniel Swisher Jr., Director of Corcept Therapeutics, sold 2,200 shares of the company's stock at an average price of $87.54, totaling approximately $192,588.
• Corcept Therapeutics shares rose 6.5%, reaching a price of $76.81 during trading, with a market capitalization of $8.09 billion.
• The company reported $0.29 earnings per share for the last quarter, exceeding estimates, and anticipates an average EPS of 1.36 for the current year.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) Director Daniel Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $87.54, for a total transaction of $192,588.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Corcept Therapeutics Trading Up 6.5%

Shares of CORT traded up $4.69 during midday trading on Wednesday, hitting $76.81. 1,378,114 shares of the company's stock traded hands, compared to its average volume of 1,239,978. Corcept Therapeutics Incorporated has a 1 year low of $42.01 and a 1 year high of $117.33. The firm's fifty day moving average is $75.60 and its 200-day moving average is $73.42. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 67.97 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The company's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Corcept Therapeutics in the second quarter valued at about $28,000. Huntington National Bank increased its position in shares of Corcept Therapeutics by 54.0% during the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company's stock valued at $35,000 after acquiring an additional 168 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Corcept Therapeutics by 99.5% in the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock valued at $43,000 after acquiring an additional 186 shares during the period. Employees Retirement System of Texas acquired a new position in shares of Corcept Therapeutics in the 2nd quarter worth approximately $52,000. Finally, USA Financial Formulas purchased a new position in shares of Corcept Therapeutics during the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Wall Street Analyst Weigh In

CORT has been the topic of several research analyst reports. Wall Street Zen raised shares of Corcept Therapeutics from a "hold" rating to a "buy" rating in a research report on Friday, September 26th. HC Wainwright reissued a "buy" rating and issued a $145.00 price target on shares of Corcept Therapeutics in a report on Friday, October 10th. Zacks Research lowered shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $140.00 target price on shares of Corcept Therapeutics in a report on Thursday, September 25th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $135.25.

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.

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