Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. sold 7,500 shares of the stock in a transaction on Monday, April 5th. The shares were sold at an average price of $24.14, for a total transaction of $181,050.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at $181,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NASDAQ:CORT traded down $0.84 during midday trading on Wednesday, hitting $23.32. The company's stock had a trading volume of 350,631 shares, compared to its average volume of 582,544. The business's 50 day simple moving average is $25.27 and its 200 day simple moving average is $23.55. The company has a market cap of $2.74 billion, a P/E ratio of 26.20 and a beta of 1.04. Corcept Therapeutics Incorporated has a 12-month low of $10.94 and a 12-month high of $31.18.
Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Monday, February 22nd. The biotechnology company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.21 by ($0.01). The business had revenue of $85.74 million during the quarter, compared to analysts' expectations of $91.80 million. Corcept Therapeutics had a return on equity of 25.38% and a net margin of 30.73%. The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.82 EPS for the current year.
A number of hedge funds have recently modified their holdings of CORT. Planned Solutions Inc. raised its stake in Corcept Therapeutics by 233.3% during the fourth quarter. Planned Solutions Inc. now owns 2,000 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 1,400 shares during the period. Hanseatic Management Services Inc. purchased a new position in Corcept Therapeutics during the fourth quarter worth about $52,000. USA Financial Portformulas Corp purchased a new position in Corcept Therapeutics during the fourth quarter worth about $63,000. Kovack Advisors Inc. purchased a new position in Corcept Therapeutics during the fourth quarter worth about $207,000. Finally, Camden Capital LLC purchased a new position in Corcept Therapeutics during the fourth quarter worth about $207,000. 75.44% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research downgraded shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating and set a $25.00 price objective on the stock. in a report on Wednesday, January 20th.
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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