Short Interest in Corcept Therapeutics Incorporated (NASDAQ:CORT) Increases By 5.5%

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 21,330,000 shares, an increase of 5.5% from the March 15th total of 20,220,000 shares. Approximately 23.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is presently 15.0 days.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the transaction, the insider now owns 74,455 shares of the company's stock, valued at approximately $1,933,596.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the sale, the insider now directly owns 74,455 shares in the company, valued at approximately $1,933,596.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 83,783 shares of company stock valued at $2,118,996. Company insiders own 18.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $15,648,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $15,164,000. Vanguard Group Inc. raised its position in Corcept Therapeutics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,332,077 shares of the biotechnology company's stock worth $264,915,000 after purchasing an additional 458,414 shares during the last quarter. BlackRock Inc. lifted its holdings in Corcept Therapeutics by 2.5% during the 1st quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company's stock worth $347,366,000 after buying an additional 376,774 shares in the last quarter. Finally, FMR LLC boosted its position in Corcept Therapeutics by 102.4% in the 3rd quarter. FMR LLC now owns 683,924 shares of the biotechnology company's stock valued at $18,634,000 after buying an additional 346,000 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CORT shares. Truist Financial lifted their target price on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, February 16th. HC Wainwright dropped their target price on Corcept Therapeutics from $34.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, January 2nd. Finally, StockNews.com raised Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 24th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Corcept Therapeutics presently has a consensus rating of "Buy" and an average price target of $37.30.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded up $0.24 during trading on Tuesday, reaching $23.39. The stock had a trading volume of 714,294 shares, compared to its average volume of 1,465,603. The stock has a market capitalization of $2.42 billion, a PE ratio of 24.37 and a beta of 0.48. Corcept Therapeutics has a 52 week low of $20.87 and a 52 week high of $34.28. The business's 50-day moving average price is $23.88 and its 200 day moving average price is $25.57.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $135.41 million during the quarter, compared to the consensus estimate of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The business's revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. Analysts forecast that Corcept Therapeutics will post 0.92 EPS for the current year.

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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