Corcept Therapeutics Sees Unusually High Options Volume (NASDAQ:CORT)

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) was the recipient of some unusual options trading on Monday. Investors purchased 4,326 put options on the stock. This is an increase of 197% compared to the average daily volume of 1,456 put options.

Insider Activity

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the firm's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the transaction, the chief accounting officer now owns 6,774 shares of the company's stock, valued at approximately $176,124. The disclosure for this sale can be found here. Insiders sold a total of 83,783 shares of company stock valued at $2,118,996 in the last ninety days. 18.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC bought a new stake in Corcept Therapeutics in the third quarter worth $27,000. GAMMA Investing LLC lifted its holdings in shares of Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 579 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $32,000. Gladius Capital Management LP bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $36,000. Finally, Planned Solutions Inc. bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $45,000. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Trading Down 2.8 %

Corcept Therapeutics stock traded down $0.65 during mid-day trading on Monday, hitting $22.30. The company had a trading volume of 3,897,981 shares, compared to its average volume of 1,477,149. The stock's 50 day moving average price is $23.89 and its two-hundred day moving average price is $25.44. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $34.28. The company has a market capitalization of $2.32 billion, a PE ratio of 23.47 and a beta of 0.48.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CORT. HC Wainwright dropped their price target on Corcept Therapeutics from $34.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, January 2nd. StockNews.com downgraded Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 17th. Finally, Truist Financial lifted their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $37.30.

About Corcept Therapeutics

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.