Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) Director Kimberly Park sold 26,685 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $122.55, for a total value of $3,270,246.75. Following the completion of the transaction, the director directly owned 30,000 shares in the company, valued at approximately $3,676,500. This represents a 47.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Corcept Therapeutics Stock Performance
CORT opened at $113.88 on Friday. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $126.38. The firm has a 50-day moving average of $101.17 and a 200 day moving average of $67.37. The firm has a market cap of $12.31 billion, a P/E ratio of 271.15 and a beta of 0.45.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. During the same quarter last year, the business posted $0.29 EPS. Corcept Therapeutics's quarterly revenue was up 31.7% compared to the same quarter last year. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in CORT. Alberta Investment Management Corp purchased a new position in Corcept Therapeutics during the second quarter valued at $9,843,000. NewEdge Wealth LLC bought a new position in shares of Corcept Therapeutics in the second quarter worth approximately $3,034,000. BlackRock Inc. purchased a new stake in Corcept Therapeutics during the 2nd quarter valued at $1,080,964,000. Avidity Partners Management LP purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at $766,000. Finally, Norges Bank bought a new stake in shares of Corcept Therapeutics in the fourth quarter worth approximately $24,213,000. Hedge funds and other institutional investors own 93.61% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on CORT shares. Piper Sandler reaffirmed an "overweight" rating and issued a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Wolfe Research lowered Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price objective on the stock. in a research report on Monday, July 27th. Wall Street Zen upgraded shares of Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 20th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $138.17.
Check Out Our Latest Stock Report on Corcept Therapeutics
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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