Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Sells $3,324,861.44 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph K. Belanoff sold 35,102 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was 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 $282,486,771.20. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $74.45 on Friday. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $117.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The stock has a market cap of $7.85 billion, a P/E ratio of 59.09 and a beta of 0.14. The business’s 50 day moving average price is $64.81 and its 200-day moving average price is $56.40.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Corcept Therapeutics by 102.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 313 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Corcept Therapeutics by 50.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,724 shares of the biotechnology company’s stock valued at $389,000 after acquiring an additional 2,578 shares in the last quarter. Cache Advisors LLC purchased a new stake in Corcept Therapeutics during the 4th quarter valued at $378,000. Public Employees Retirement System of Ohio boosted its stake in Corcept Therapeutics by 269.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company’s stock valued at $144,000 after purchasing an additional 2,086 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth $204,000. 93.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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