Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider William Guyer sold 10,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the transaction, the insider now directly owns 6,643 shares of the company’s stock, valued at $212,576. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Corcept Therapeutics Stock Up 3.5 %
CORT stock traded up $1.10 during midday trading on Friday, reaching $32.76. The stock had a trading volume of 813,344 shares, compared to its average volume of 726,157. The business has a fifty day simple moving average of $27.13 and a two-hundred day simple moving average of $27.33. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 40.44 and a beta of 0.35. Corcept Therapeutics Incorporated has a twelve month low of $17.86 and a twelve month high of $34.28.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The firm had revenue of $123.60 million during the quarter, compared to analyst estimates of $119.71 million. Corcept Therapeutics had a return on equity of 18.99% and a net margin of 20.20%. The company’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 0.91 earnings per share for the current fiscal year.
Institutional Trading of Corcept Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC acquired a new stake in Corcept Therapeutics in the third quarter worth about $27,000. Lazard Asset Management LLC bought a new position in Corcept Therapeutics during the second quarter worth about $28,000. Pinebridge Investments L.P. bought a new position in Corcept Therapeutics during the second quarter worth about $31,000. Tower Research Capital LLC TRC bought a new position in Corcept Therapeutics during the second quarter worth about $39,000. Finally, Strs Ohio bought a new position in Corcept Therapeutics during the third quarter worth about $54,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CORT has been the subject of a number of analyst reports. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 14th. Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 13th. HC Wainwright lifted their price objective on Corcept Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, Truist Financial raised Corcept Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $38.00 in a report on Monday, November 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and an average price target of $32.56.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing’s syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.