Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Sells 615 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) CEO Joseph K. Belanoff sold 615 shares of the stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $73.69, for a total value of $45,319.35. Following the transaction, the chief executive officer directly owned 2,901,370 shares of the company's stock, valued at approximately $213,801,955.30. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock traded down $0.74 on Monday, hitting $70.12. 628,963 shares of the company's stock traded hands, compared to its average volume of 1,184,765. The firm's 50-day moving average price is $72.75 and its two-hundred day moving average price is $67.35. The stock has a market capitalization of $7.44 billion, a PE ratio of 60.45 and a beta of 0.15. Corcept Therapeutics Incorporated has a one year low of $32.33 and a one year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. The company had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. On average, analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds have recently modified their holdings of CORT. Canada Pension Plan Investment Board bought a new stake in Corcept Therapeutics in the fourth quarter valued at $40,000. National Bank of Canada FI bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $42,000. Brooklyn Investment Group increased its position in shares of Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock worth $43,000 after acquiring an additional 186 shares in the last quarter. USA Financial Formulas purchased a new position in Corcept Therapeutics during the second quarter worth about $56,000. Finally, Gen Wealth Partners Inc purchased a new position in Corcept Therapeutics during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a report on Tuesday, May 6th. Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. HC Wainwright cut their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Piper Sandler increased their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.25.

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.

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