Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) CEO Joseph K. Belanoff sold 35,102 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $94.72, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Corcept Therapeutics Stock Performance
NASDAQ:CORT opened at $79.37 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The business has a fifty day simple moving average of $64.52 and a two-hundred day simple moving average of $56.03. The company has a market capitalization of $8.37 billion, a P/E ratio of 62.99 and a beta of 0.14.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). The firm had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.
Institutional Trading of Corcept Therapeutics
A number of institutional investors have recently modified their holdings of CORT. Kestra Investment Management LLC bought a new stake in Corcept Therapeutics during the 4th quarter valued at $27,000. Canada Pension Plan Investment Board bought a new position in shares of Corcept Therapeutics in the fourth quarter worth $40,000. National Bank of Canada FI purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at $42,000. USA Financial Formulas bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Corcept Therapeutics during the 4th quarter worth about $58,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. HC Wainwright upped their target price on Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a report on Monday. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday. StockNews.com cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Truist Financial boosted their price target on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a report on Monday. Finally, Piper Sandler raised their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Corcept Therapeutics has an average rating of "Moderate Buy" and an average target price of $143.25.
Read Our Latest Analysis on Corcept Therapeutics
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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