Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Gary Charles Robb Sells 3,101 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Gary Charles Robb sold 3,101 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the sale, the insider now owns 23,190 shares in the company, valued at $828,114.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Corcept Therapeutics Stock Down 0.6 %

CORT traded down $0.22 on Wednesday, reaching $34.44. The company had a trading volume of 499,194 shares, compared to its average volume of 1,249,322. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $39.75. The stock has a market capitalization of $3.59 billion, a PE ratio of 32.86 and a beta of 0.44. The stock has a 50-day moving average price of $33.23 and a 200-day moving average price of $28.39.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. As a group, analysts expect that Corcept Therapeutics Incorporated will post 1.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Truist Financial reissued a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, HC Wainwright raised their target price on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Buy” and an average target price of $46.50.

Institutional Investors Weigh In On Corcept Therapeutics

Several large investors have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $209,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Corcept Therapeutics by 51.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,756 shares of the biotechnology company’s stock valued at $674,000 after acquiring an additional 7,038 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Corcept Therapeutics during the 4th quarter worth approximately $47,000. Jackson Creek Investment Advisors LLC purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at approximately $1,110,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Corcept Therapeutics by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 900,444 shares of the biotechnology company’s stock valued at $29,246,000 after purchasing an additional 39,111 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

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.