Key Points
- Director James Wilson sold 10,000 Corcept Therapeutics shares at an average price of $114.81, generating $1.15 million. His remaining direct ownership totals 1,054,543 shares.
- Corcept shares fell 2.8% to $110.16, while the company reported quarterly EPS of $0.36 and revenue of $256.15 million, both above analyst expectations. Revenue increased 31.7% year over year.
- Analyst sentiment remains positive, with a consensus rating of Moderate Buy and an average price target of $138.17; institutional investors own 93.61% of the 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 Thursday, October 15th. The stock was sold at an average price of $114.81, for a total value of $1,148,100.00. Following the transaction, the director directly owned 1,054,543 shares in the company, valued at approximately $121,072,081.83. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Corcept Therapeutics Trading Down 2.8%
Shares of CORT traded down $3.21 during midday trading on Friday, hitting $110.16. 849,667 shares of the company's stock traded hands, compared to its average volume of 1,640,998. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 262.29 and a beta of 0.40. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $126.38. The firm's fifty day moving average is $115.66 and its 200-day moving average is $86.69.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.34. The company had revenue of $256.15 million during the quarter, compared to analysts' expectations of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%. The firm's revenue was up 31.7% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.83 EPS for the current year.
Analyst Ratings Changes
Several equities analysts recently commented on CORT shares. Weiss Ratings raised shares of Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Zacks Research raised shares of Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 28th. Piper Sandler restated an "overweight" rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. Truist Financial assumed coverage on shares of Corcept Therapeutics in a research note on Tuesday, August 18th. They set a "buy" rating and a $164.00 price target on the stock. Finally, Wall Street Zen raised shares of Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $138.17.
Read Our Latest Research Report on CORT
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Corcept Therapeutics in the 2nd quarter worth about $1,080,964,000. Parallel Advisors LLC grew its holdings in Corcept Therapeutics by 2.5% in the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company's stock valued at $160,329,000 after purchasing an additional 96,763 shares during the period. First Trust Advisors LP grew its holdings in Corcept Therapeutics by 213.5% in the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company's stock valued at $87,609,000 after purchasing an additional 1,480,059 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $49,185,000. Finally, Bank of America Corp DE purchased a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $28,569,000. Hedge funds and other institutional investors own 93.61% of the company's stock.
Corcept Therapeutics Company Profile
(
Get Free Report)
Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company's research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.
Corcept's principal commercial product is Korlym (mifepristone), a 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 had unsuccessful surgery.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
