Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) CEO Joseph K. Belanoff sold 2,924 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the transaction, the chief executive officer now owns 3,019,411 shares in the company, valued at $183,912,324.01. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Corcept Therapeutics Price Performance
Shares of NASDAQ CORT opened at $55.99 on Wednesday. The firm has a market capitalization of $5.91 billion, a P/E ratio of 44.44 and a beta of 0.58. The firm's 50-day moving average price is $60.12 and its 200-day moving average price is $51.82. 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 Incorporated has a 1-year low of $20.84 and a 1-year high of $75.00.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Corcept Therapeutics
A number of large investors have recently modified their holdings of CORT. Black Diamond Financial LLC raised its holdings in shares of Corcept Therapeutics by 4.0% in the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock valued at $262,000 after purchasing an additional 200 shares during the last quarter. Quadrant Capital Group LLC grew its position in Corcept Therapeutics by 9.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company's stock worth $150,000 after purchasing an additional 257 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Corcept Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company's stock valued at $426,000 after buying an additional 268 shares during the last quarter. Hancock Whitney Corp increased its stake in Corcept Therapeutics by 1.2% in the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company's stock valued at $1,062,000 after buying an additional 270 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Corcept Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company's stock worth $1,374,000 after buying an additional 289 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, January 30th. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Finally, Piper Sandler boosted their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.75.
Check Out Our Latest Stock Report on CORT
Corcept Therapeutics Company Profile
(
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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