Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Roberto Vieira sold 8,333 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $80.89, for a total transaction of $674,056.37. Following the sale, the insider owned 3,946 shares in the company, valued at approximately $319,191.94. This represents a 67.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Roberto Wandenkolk Vieira also recently made the following trade(s):
- On Friday, October 2nd, Roberto Vieira sold 8,333 shares of Corcept Therapeutics stock. The shares were sold at an average price of $116.10, for a total value of $967,461.30.
- On Wednesday, September 16th, Roberto Vieira sold 296 shares of Corcept Therapeutics stock. The shares were sold at an average price of $100.82, for a total value of $29,842.72.
- On Wednesday, September 2nd, Roberto Vieira sold 58,333 shares of Corcept Therapeutics stock. The shares were sold at an average price of $110.76, for a total value of $6,460,963.08.
Corcept Therapeutics Trading Down 3.3%
NASDAQ CORT opened at $79.22 on Thursday. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 64.51 and a beta of 0.54. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38. The stock has a 50-day moving average of $109.43 and a 200 day moving average of $75.28.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.17. Corcept Therapeutics had a return on equity of 24.00% and a net margin of 16.53%. The company had revenue of $340.47 million for the quarter, compared to the consensus estimate of $339.12 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. Corcept Therapeutics's revenue for the quarter was up 64.0% on a year-over-year basis. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.83 EPS for the current fiscal year.
Key Headlines Impacting Corcept Therapeutics
Here are the key news stories impacting Corcept Therapeutics this week:
- Positive Sentiment: Q3 revenue rose 64% year over year to $340.5 million, topping the $336.4 million consensus estimate. Earnings of $1.01 per share also beat the $0.79 estimate. Stronger Korlym sales and growing Lifyorli uptake helped drive the results. Article: CORT's Q3 Earnings Beat
- Positive Sentiment: Piper Sandler reaffirmed its “overweight” rating and raised its price target to $173 from $165, signaling confidence in the company’s prospects. Article: Piper Sandler stock recommendations
- Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has projected $3 billion to $5 billion in Cushing’s syndrome revenue by 2030. The decision and longer-term sales target could be meaningful catalysts, but depend on regulatory and commercial success. Article: Corcept’s relacorilant decision and revenue target
- Negative Sentiment: Despite the earnings and revenue beats, shares sold off as investors reacted to company guidance, which appeared to disappoint or fall short of expectations. That forward-looking concern outweighed the strong quarterly results. Article: Corcept falls on guidance despite earnings beat
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Truist Financial started coverage on Corcept Therapeutics in a research report on Tuesday, August 18th. They set a "buy" rating and a $164.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $165.00 price target on shares of Corcept Therapeutics in a research note on Friday, September 18th. Wolfe Research lowered shares of Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price target for the company. in a report on Monday, July 27th. Weiss Ratings upgraded shares of Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Finally, 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. Five investment 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, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $139.50.
Get Our Latest Research Report on Corcept Therapeutics
Institutional Investors Weigh In On Corcept Therapeutics
Several institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $27,000. Provenance Wealth Advisors LLC acquired a new position in shares of Corcept Therapeutics during the third quarter valued at approximately $38,000. Fulcrum Asset Management LLP lifted its position in shares of Corcept Therapeutics by 520.7% in the third quarter. Fulcrum Asset Management LLP now owns 571 shares of the biotechnology company's stock valued at $66,000 after acquiring an additional 479 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Corcept Therapeutics in the third quarter valued at approximately $85,000. Finally, State of Wyoming lifted its position 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 valued at $33,000 after acquiring an additional 186 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.
About Corcept Therapeutics
(
Get Free Report)
Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company's research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.
Corcept's primary marketed 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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