Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) CEO Joseph K. Belanoff sold 2,924 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the sale, the chief executive officer now directly owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Corcept Therapeutics Price Performance
Shares of CORT stock traded up $1.10 during mid-day trading on Friday, hitting $55.40. 1,439,423 shares of the stock traded hands, compared to its average volume of 1,035,462. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $75.00. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 43.97 and a beta of 0.58. The company's 50-day simple moving average is $60.34 and its 200-day simple moving average is $52.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have weighed in on CORT shares. Piper Sandler lifted their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $99.75.
Check Out Our Latest Stock Analysis on CORT
Hedge Funds Weigh In On Corcept Therapeutics
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Corcept Therapeutics by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock valued at $509,726,000 after purchasing an additional 109,294 shares during the period. Parallel Advisors LLC raised its position in shares of Corcept Therapeutics by 0.4% during the fourth quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock worth $192,975,000 after purchasing an additional 15,908 shares during the period. State Street Corp lifted its holdings in shares of Corcept Therapeutics by 0.6% during the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock valued at $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Corcept Therapeutics by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company's stock valued at $110,108,000 after purchasing an additional 99,470 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after purchasing an additional 64,321 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.
About Corcept Therapeutics
(
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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.
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