Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $509,080.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Gary Charles Robb sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the sale, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Gary Charles Robb also recently made the following trade(s):

• On Monday, August 26th, Gary Charles Robb sold 3,101 shares of Corcept Therapeutics stock. The stock was sold at an average price of $35.71, for a total value of $110,736.71.

Corcept Therapeutics Stock Performance

CORT traded up $0.47 during midday trading on Tuesday, reaching $46.75. 1,152,218 shares of the company were exchanged, compared to its average volume of 1,200,508. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 44.10 and a beta of 0.45. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $47.71. The company’s fifty day moving average price is $36.63 and its 200 day moving average price is $30.93.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $163.80 million for the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The firm’s revenue was up 39.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CORT shares. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Piper Sandler boosted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. HC Wainwright increased their price target on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Truist Financial boosted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $56.50.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently made changes to their positions in CORT. BNP Paribas Financial Markets raised its holdings in shares of Corcept Therapeutics by 199.0% in the 1st quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock worth $5,330,000 after purchasing an additional 140,815 shares during the period. Quantedge Capital Pte Ltd bought a new position in shares of Corcept Therapeutics in the fourth quarter worth $8,066,000. Oak Ridge Investments LLC purchased a new position in Corcept Therapeutics during the 2nd quarter valued at about $984,000. State Board of Administration of Florida Retirement System grew its stake in Corcept Therapeutics by 190.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock valued at $1,684,000 after acquiring an additional 43,809 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Corcept Therapeutics by 6,252.3% during the 1st quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock valued at $637,000 after purchasing an additional 24,884 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

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.