Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 11,000 Shares of Stock

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

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 shares were sold at an average price of $35.71, for a total transaction of $110,736.71.

Corcept Therapeutics Price Performance

CORT opened at $45.86 on Thursday. The business has a fifty day moving average price of $36.87 and a 200 day moving average price of $31.09. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $47.71. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 43.26 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The firm 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 business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CORT shares. Truist Financial lifted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler lifted 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. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Finally, HC Wainwright raised their price objective on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and a consensus target price of $56.50.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Norden Group LLC purchased a new position in Corcept Therapeutics in the first quarter valued at $50,081,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth about $18,426,000. Jupiter Asset Management Ltd. increased its holdings in shares of Corcept Therapeutics by 1,149.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after acquiring an additional 684,863 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $14,670,000. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $15,164,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.