Corcept Therapeutics (NASDAQ:CORT) Shares Down 4.5%

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) were down 4.5% on Friday . The company traded as low as $23.11 and last traded at $23.92. Approximately 356,189 shares were traded during trading, a decline of 76% from the average daily volume of 1,459,024 shares. The stock had previously closed at $25.06.

Analysts Set New Price Targets

Several research firms have weighed in on CORT. StockNews.com cut shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday. HC Wainwright lifted their price objective on Corcept Therapeutics from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Truist Financial upped their target price on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $40.10.

Corcept Therapeutics Price Performance

The company's 50 day simple moving average is $23.93 and its 200 day simple moving average is $25.25. The stock has a market cap of $2.55 billion, a P/E ratio of 23.64 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.04. The business had revenue of $146.80 million during the quarter, compared to analysts' expectations of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 25.29%. The firm's quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 0.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 27,068 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 74,455 shares in the company, valued at $1,933,596.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sean Maduck sold 27,068 shares of the company's stock in a transaction dated Friday, February 16th. The stock was 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 directly owns 74,455 shares of the company's stock, valued at $1,933,596.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $23.59, for a total value of $51,898.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,583 shares of company stock worth $2,070,596. Company insiders own 20.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CORT. Quadrant Capital Group LLC grew its holdings in shares of Corcept Therapeutics by 27.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company's stock valued at $68,000 after acquiring an additional 448 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Corcept Therapeutics by 9.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company's stock worth $192,000 after purchasing an additional 500 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Corcept Therapeutics by 1.0% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company's stock worth $1,841,000 after purchasing an additional 555 shares during the last quarter. GAMMA Investing LLC lifted its stake in Corcept Therapeutics by 90.6% in the 1st 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 during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Corcept Therapeutics by 1.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company's stock worth $1,444,000 after purchasing an additional 641 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

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.

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