Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Sells 35,102 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) CEO Joseph K. Belanoff sold 35,102 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $94.72, for a total value of $3,324,861.44. Following the completion of the sale, the chief executive officer now directly owns 2,982,335 shares of the company's stock, valued at approximately $282,486,771.20. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Corcept Therapeutics Stock Performance

NASDAQ:CORT traded up $0.20 during mid-day trading on Monday, hitting $74.65. The stock had a trading volume of 2,559,365 shares, compared to its average volume of 1,105,142. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $65.10 and a 200-day simple moving average of $56.73. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 59.25 and a beta of 0.15. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. On average, research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at about $27,000. Canada Pension Plan Investment Board acquired a new position in Corcept Therapeutics during the 4th quarter valued at about $40,000. National Bank of Canada FI bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $42,000. USA Financial Formulas acquired a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $54,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $58,000. Institutional investors own 93.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CORT. StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Truist Financial boosted their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday. HC Wainwright lifted their target price on Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Finally, Canaccord Genuity Group increased their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $143.25.

Corcept Therapeutics Company Profile

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.