Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) CFO Atabak Mokari sold 80,000 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $114.71, for a total value of $9,176,800.00. Following the sale, the chief financial officer owned 16,130 shares in the company, valued at approximately $1,850,272.30. The trade was a 83.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Atabak Mokari also recently made the following trade(s):
- On Monday, June 15th, Atabak Mokari sold 40,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $81.15, for a total value of $3,246,000.00.
- On Monday, June 1st, Atabak Mokari sold 40,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.00, for a total value of $2,800,000.00.
Corcept Therapeutics Stock Down 1.5%
CORT stock opened at $112.80 on Tuesday. The firm has a market capitalization of $12.19 billion, a PE ratio of 268.58 and a beta of 0.45. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $122.21. The stock has a 50-day simple moving average of $85.82 and a two-hundred day simple moving average of $57.45.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm had revenue of $256.15 million for the quarter, compared to analysts' expectations of $221.15 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company's revenue was up 31.7% on a year-over-year basis. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.
Hedge Funds Weigh In On Corcept Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the stock. Pathstone Holdings LLC increased its position in shares of Corcept Therapeutics by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company's stock valued at $1,497,000 after purchasing an additional 144 shares during the last quarter. State of Wyoming boosted its holdings in shares of Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock worth $33,000 after buying an additional 186 shares during the last quarter. Gould Capital LLC grew its position in Corcept Therapeutics by 50.0% during the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company's stock valued at $50,000 after buying an additional 200 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Corcept Therapeutics by 3.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company's stock valued at $240,000 after buying an additional 247 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in Corcept Therapeutics by 3.0% in the fourth quarter. Evergreen Capital Management LLC now owns 8,609 shares of the biotechnology company's stock worth $300,000 after acquiring an additional 248 shares during the period. Hedge funds and other institutional investors own 93.61% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on CORT. Truist Financial raised shares of Corcept Therapeutics to a "strong-buy" rating in a report on Monday, June 15th. Zacks Research raised shares of Corcept Therapeutics from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. Weiss Ratings restated a "hold (c-)" rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a report on Thursday, May 28th. Finally, Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.17.
View Our Latest Analysis on CORT
About Corcept Therapeutics
(
Get Free Report)
Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.
The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.
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