Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Sells 2,200 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $51.83 on Friday. The firm has a market cap of $5.43 billion, a P/E ratio of 41.14 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $61.66. The stock’s 50-day moving average is $46.46 and its two-hundred day moving average is $36.80.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm’s revenue was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. Analysts predict that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics during the 3rd quarter worth $25,000. Park Place Capital Corp acquired a new stake in shares of Corcept Therapeutics in the second quarter valued at about $32,000. Atwood & Palmer Inc. bought a new position in shares of Corcept Therapeutics in the second quarter worth about $35,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Corcept Therapeutics during the 3rd quarter worth about $36,000. Finally, Blue Trust Inc. lifted its position in shares of Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,962 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

CORT has been the subject of several recent analyst reports. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a report on Tuesday, July 30th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $65.25.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.