Corcept Therapeutics (NASDAQ:CORT) Stock Price Up 7.5%

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report)'s share price was up 7.5% during mid-day trading on Tuesday . The company traded as high as $24.23 and last traded at $23.98. Approximately 794,321 shares traded hands during trading, a decline of 46% from the average daily volume of 1,467,607 shares. The stock had previously closed at $22.30.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CORT shares. Truist Financial increased their price objective on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. HC Wainwright reiterated a "buy" rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, April 17th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $39.30.

Corcept Therapeutics Trading Up 3.1 %

The firm's 50-day moving average is $23.89 and its 200 day moving average is $25.44. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 24.26 and a beta of 0.48.

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

Insider Activity

In related news, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics 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 completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chief accounting officer now owns 6,774 shares of the company's stock, valued at approximately $176,124. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the transaction, the insider now directly owns 74,455 shares in the company, valued at $1,933,596.35. The disclosure for this sale can be found here. Insiders sold 83,783 shares of company stock worth $2,118,996 in the last quarter. 18.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds have recently bought and sold shares of CORT. Milestone Asset Management LLC purchased a new position in shares of Corcept Therapeutics in the 1st quarter worth about $882,000. Raymond James Financial Services Advisors Inc. bought a new stake in Corcept Therapeutics in the 1st quarter valued at about $1,262,000. Norden Group LLC bought a new stake in Corcept Therapeutics in the 1st quarter valued at about $50,081,000. Allspring Global Investments Holdings LLC raised its stake in Corcept Therapeutics by 85.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 126,807 shares of the biotechnology company's stock valued at $3,194,000 after acquiring an additional 58,468 shares during the period. Finally, AlphaMark Advisors LLC bought a new stake in Corcept Therapeutics in the 1st quarter valued at about $236,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

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.