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 stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total transaction of $111,188.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Daniel N. Swisher, Jr. also recently made the following trade(s):

• On Tuesday, December 10th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The stock was sold at an average price of $59.46, for a total value of $130,812.00.
• On Monday, November 11th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The shares were sold at an average price of $59.88, for a total value of $131,736.00.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $54.45 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a market cap of $5.70 billion, a PE ratio of 43.21 and a beta of 0.56. The stock has a fifty day moving average price of $54.89 and a 200 day moving average price of $44.60. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. The business had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

A number of large investors have recently modified their holdings of CORT. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the third quarter worth $25,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter worth $36,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth $54,000. GAMMA Investing LLC increased its holdings in shares of Corcept Therapeutics by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,147 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 496 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CORT shares. Truist Financial lifted their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and an average price target 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.