Corcept Therapeutics (NASDAQ:CORT) Stock: Insider Daniel Swisher Jr Sells 1,500 Shares

Key Points

• Director Daniel Swisher Jr. sold 1,500 Corcept shares at an average $74.07 each, totaling $111,105. The sale reduced his holdings by 57.69%, leaving him with 1,100 shares.
• Corcept reported quarterly EPS of $1.01, beating the $0.84 analyst consensus, while revenue rose 64% year over year to $340.47 million.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $139.50; shares were trading at $72.90 in the article.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) Director Daniel Swisher, Jr. sold 1,500 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $74.07, for a total value of $111,105.00. Following the completion of the transaction, the director owned 1,100 shares of the company's stock, valued at $81,477. The trade was a 57.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock traded down $0.81 during midday trading on Friday, reaching $72.90. The company's stock had a trading volume of 1,112,919 shares, compared to its average volume of 1,469,770. The firm has a market capitalization of $7.98 billion, a PE ratio of 57.40 and a beta of 0.54. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $126.38. The stock's 50 day simple moving average is $104.49 and its 200 day simple moving average is $76.30.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.17. The business had revenue of $340.47 million for the quarter, compared to analysts' expectations of $339.12 million. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 22.56%. The business's revenue for the quarter was up 64.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $173.00 target price (up from $165.00) on shares of Corcept Therapeutics in a report on Wednesday, November 4th. Truist Financial assumed coverage on Corcept Therapeutics in a research note on Tuesday, August 18th. They set a "buy" rating and a $164.00 price target on the stock. Weiss Ratings upgraded Corcept Therapeutics from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, November 4th. Wall Street Zen raised Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Finally, HC Wainwright reaffirmed a "buy" rating and set a $165.00 price objective on shares of Corcept Therapeutics in a report on Friday, September 18th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $139.50.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its stake in Corcept Therapeutics by 3.8% in the third quarter. Allworth Financial LP now owns 4,039 shares of the biotechnology company's stock valued at $465,000 after purchasing an additional 147 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Corcept Therapeutics by 1.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 14,007 shares of the biotechnology company's stock worth $1,650,000 after buying an additional 178 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Corcept Therapeutics by 1.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,617 shares of the biotechnology company's stock worth $923,000 after buying an additional 184 shares during the last quarter. State of Wyoming boosted its stake in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock worth $33,000 after buying an additional 186 shares during the last quarter. Finally, Wedmont Private Capital grew its holdings in Corcept Therapeutics by 6.1% in the 3rd quarter. Wedmont Private Capital now owns 3,329 shares of the biotechnology company's stock valued at $395,000 after buying an additional 190 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a biopharmaceutical company focused on developing medicines that modulate the effects of cortisol, a hormone involved in the body's response to stress and in several disease processes. Founded in 1998, the company conducts research and develops treatments for conditions in which cortisol may play a role. Its marketed product, Korlym (mifepristone), is approved in the United States to control high blood sugar in adults with endogenous Cushing's syndrome who have type 2 diabetes or glucose intolerance and are not candidates for surgery or have not benefited from it.

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