TheStreet Lowers Corcept Therapeutics (NASDAQ:CORT) to C+

Friday, June 4, 2021 | MarketBeat

Corcept Therapeutics (NASDAQ:CORT) was downgraded by equities researchers at TheStreet from a "b" rating to a "c+" rating in a research report issued to clients and investors on Wednesday, TheStreetRatingsTable reports.

CORT stock opened at $21.74 on Wednesday. The firm has a market capitalization of $2.54 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.39 and a beta of 0.73. The business has a 50-day moving average of $22.46. Corcept Therapeutics has a fifty-two week low of $12.20 and a fifty-two week high of $31.18.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, May 6th. The biotechnology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.03). The company had revenue of $79.44 million during the quarter, compared to analyst estimates of $96.99 million. Corcept Therapeutics had a return on equity of 20.11% and a net margin of 29.23%. The business's revenue for the quarter was down 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. On average, equities analysts forecast that Corcept Therapeutics will post 0.78 earnings per share for the current fiscal year.

In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 25,000 shares of the business's stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $23.88, for a total value of $597,000.00. Following the sale, the chief accounting officer now directly owns 25,000 shares in the company, valued at $597,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gary Charles Robb sold 10,000 shares of the business's stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $24.02, for a total transaction of $240,200.00. Following the completion of the sale, the chief financial officer now owns 75,638 shares in the company, valued at $1,816,824.76. The disclosure for this sale can be found here. Insiders sold 42,500 shares of company stock valued at $1,018,250 in the last ninety days. Corporate insiders own 16.40% of the company's stock.

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors raised its position in Corcept Therapeutics by 1,706.8% in the first quarter. Captrust Financial Advisors now owns 3,975 shares of the biotechnology company's stock worth $95,000 after acquiring an additional 3,755 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter worth about $1,193,000. Camden Capital LLC acquired a new stake in Corcept Therapeutics during the 4th quarter worth about $207,000. First Citizens Bank & Trust Co. acquired a new stake in Corcept Therapeutics during the 1st quarter worth about $210,000. Finally, Eqis Capital Management Inc. acquired a new stake in Corcept Therapeutics during the 1st quarter worth about $219,000. Hedge funds and other institutional investors own 69.37% of the company's stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

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