Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Douglas Lyon sold 1,411 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total value of $80,031.92. Following the completion of the sale, the insider now owns 8,494 shares of the company's stock, valued at approximately $481,779.68. This trade represents a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Corcept Therapeutics Price Performance
Corcept Therapeutics stock opened at $58.58 on Wednesday. The firm has a market capitalization of $6.14 billion, a P/E ratio of 46.49 and a beta of 0.45. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $61.66. The business has a 50-day moving average of $48.82 and a 200-day moving average of $38.29. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company's revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.
Hedge Funds Weigh In On Corcept Therapeutics
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Several institutional investors have recently modified their holdings of the stock. World Investment Advisors LLC acquired a new position in shares of Corcept Therapeutics during the 3rd quarter worth about $503,000. Geode Capital Management LLC lifted its holdings in shares of Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company's stock valued at $110,108,000 after purchasing an additional 99,470 shares in the last quarter. Executive Wealth Management LLC bought a new position in shares of Corcept Therapeutics during the 3rd quarter valued at about $2,804,000. Tanaka Capital Management Inc. lifted its holdings in shares of Corcept Therapeutics by 11.8% during the 3rd quarter. Tanaka Capital Management Inc. now owns 112,136 shares of the biotechnology company's stock valued at $5,190,000 after purchasing an additional 11,860 shares in the last quarter. Finally, MML Investors Services LLC bought a new position in shares of Corcept Therapeutics during the 3rd quarter valued at about $317,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CORT has been the subject of a number of research reports. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. StockNews.com lowered Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Monday. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Truist Financial lifted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, Piper Sandler lifted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $65.25.
Check Out Our Latest Stock Report on CORT
About Corcept Therapeutics
(
Get Free Report)
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.
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