Key Points
- Director James Wilson sold 10,000 Corcept Therapeutics shares at an average price of $110.69, generating $1.11 million. His remaining stake totaled 1,064,543 shares, valued at approximately $117.8 million.
- Corcept reported quarterly EPS of $0.36, beating the $0.02 consensus estimate, while revenue rose 31.7% year over year to $256.15 million, above analyst expectations.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $138.17; institutional investors own 93.61% of the company’s outstanding stock.
Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) Director James Wilson sold 10,000 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $110.69, for a total value of $1,106,900.00. Following the sale, the director owned 1,064,543 shares of the company's stock, valued at approximately $117,834,264.67. This represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Corcept Therapeutics Trading Up 0.9%
CORT opened at $111.81 on Thursday. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 266.22 and a beta of 0.45. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $126.38. The stock has a fifty day moving average price of $107.76 and a 200-day moving average price of $74.40.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 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 firm had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. During the same quarter in the previous year, the business posted $0.29 EPS. Corcept Therapeutics's revenue was up 31.7% on a year-over-year basis. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 2.02 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on CORT shares. Truist Financial initiated coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They issued a "buy" rating and a $164.00 price objective for the company. Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Weiss Ratings cut Corcept Therapeutics from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, September 8th. HC Wainwright boosted their price target on Corcept Therapeutics from $95.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, UBS Group set a $135.00 price objective on Corcept Therapeutics in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $138.17.
Get Our Latest Analysis on CORT
Institutional Investors Weigh In On Corcept Therapeutics
Hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter valued at about $645,000. Tidal Investments LLC increased its stake in shares of Corcept Therapeutics by 9.2% in the 2nd quarter. Tidal Investments LLC now owns 24,218 shares of the biotechnology company's stock valued at $2,106,000 after purchasing an additional 2,039 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Corcept Therapeutics in the 2nd quarter valued at about $558,000. NewEdge Advisors LLC raised its holdings in Corcept Therapeutics by 17.9% in the 2nd quarter. NewEdge Advisors LLC now owns 11,041 shares of the biotechnology company's stock worth $960,000 after purchasing an additional 1,677 shares during the period. Finally, IFP Advisors Inc raised its holdings in Corcept Therapeutics by 568.4% in the 2nd quarter. IFP Advisors Inc now owns 909 shares of the biotechnology company's stock worth $79,000 after purchasing an additional 773 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.
Corcept Therapeutics Company Profile
(
Get Free Report)
Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering and developing medicines that modulate the effects of the stress hormone cortisol. The company's research centers on the glucocorticoid receptor, which regulates cortisol activity and may play a role in metabolic, psychiatric, oncologic and other serious diseases.
Corcept's commercial product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing's syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.
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