Key Points
- Director Daniel Swisher, Jr. sold 1,500 Corcept shares at an average of $74.07, totaling $111,105. After the sale, he held 1,100 shares, a 57.69% reduction in his position.
- Corcept reported quarterly EPS of $1.01, beating the $0.84 consensus estimate, while revenue rose 64% year over year to $340.47 million.
- Analysts’ consensus rating was Moderate Buy, with an average price target of $139.50; shares traded at $72.94 in Friday’s session.
Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) Director Daniel Swisher, Jr. sold 1,500 shares of the company's stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $74.07, for a total transaction of $111,105.00. Following the completion of the transaction, the director owned 1,100 shares in the company, valued at approximately $81,477. This trade represents a 57.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Corcept Therapeutics Price Performance
Corcept Therapeutics stock traded down $0.77 during trading hours on Friday, hitting $72.94. The company had a trading volume of 1,112,926 shares, compared to its average volume of 1,293,167. The firm has a market cap of $7.98 billion, a PE ratio of 57.43 and a beta of 0.54. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $126.38. The firm has a 50-day moving average of $103.70 and a 200 day moving average of $76.43.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.17. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 22.56%. The firm had revenue of $340.47 million during the quarter, compared to the consensus estimate of $339.12 million. During the same period last year, the business posted $0.16 earnings per share. The business's revenue for the quarter was up 64.0% compared to the same quarter last year. As a group, research analysts expect that Corcept Therapeutics Incorporated will post 1.97 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Wolfe Research downgraded Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price target for the company. in a research note on Monday, July 27th. Truist Financial started coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They issued a "buy" rating and a $164.00 price objective on the stock. Zacks Research cut Corcept Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 27th. Finally, Piper Sandler reiterated an "overweight" rating and set a $173.00 price objective (up from $165.00) on shares of Corcept Therapeutics in a research report on Wednesday, November 4th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $139.50.
Read Our Latest Research Report on Corcept Therapeutics
Institutional Trading of Corcept Therapeutics
Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its holdings in Corcept Therapeutics by 3.8% in the third quarter. Allworth Financial LP now owns 4,039 shares of the biotechnology company's stock worth $465,000 after purchasing an additional 147 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Corcept Therapeutics by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 14,007 shares of the biotechnology company's stock valued at $1,650,000 after buying an additional 178 shares during the period. Pathstone Holdings LLC boosted its holdings in shares of Corcept Therapeutics by 1.6% during the 3rd quarter. Pathstone Holdings LLC now owns 11,535 shares of the biotechnology company's stock worth $1,329,000 after buying an additional 180 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Corcept Therapeutics by 1.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,617 shares of the biotechnology company's stock worth $923,000 after buying an additional 184 shares in the last quarter. Finally, State of Wyoming boosted its holdings in shares of Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock worth $33,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.
Corcept Therapeutics Company Profile
(
Get Free Report)
Corcept Therapeutics is a biopharmaceutical company focused on developing medicines that modulate the effects of cortisol, a hormone involved in the body's response to stress and in several disease processes. Founded in 1998, the company conducts research and develops treatments for conditions in which cortisol may play a role. Its marketed product, Korlym (mifepristone), is approved in the United States to control high blood sugar in adults with endogenous Cushing's syndrome who have type 2 diabetes or glucose intolerance and are not candidates for surgery or have not benefited from it.
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