Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. Sells 2,200 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.81, for a total value of $72,182.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, June 3rd, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The stock was sold at an average price of $30.21, for a total value of $66,462.00.

Corcept Therapeutics Trading Down 3.4 %

CORT stock opened at $30.50 on Friday. The company’s 50 day moving average is $29.07 and its 200 day moving average is $26.19. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 28.77 and a beta of 0.44. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $35.22.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $146.80 million for the quarter, compared to analyst estimates of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 EPS. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CORT. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a research note on Monday, June 17th. Piper Sandler restated an “overweight” rating and set a $35.00 price target on shares of Corcept Therapeutics in a research report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Corcept Therapeutics in a report on Wednesday, May 29th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and an average price target of $45.10.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CORT. Quantedge Capital Pte Ltd purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth about $8,066,000. Norges Bank bought a new stake in Corcept Therapeutics in the 4th quarter worth approximately $24,603,000. Linden Thomas Advisory Services LLC boosted its stake in Corcept Therapeutics by 1.0% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company’s stock worth $1,841,000 after buying an additional 555 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Corcept Therapeutics by 85.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 126,807 shares of the biotechnology company’s stock valued at $3,194,000 after acquiring an additional 58,468 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Corcept Therapeutics by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 900,444 shares of the biotechnology company’s stock worth $29,246,000 after acquiring an additional 39,111 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

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.