Corcept Therapeutics (NASDAQ:CORT) CEO Sells $3,403,200.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph Belanoff sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total transaction of $3,403,200.00. Following the completion of the transaction, the chief executive officer owned 2,781,370 shares of the company’s stock, valued at approximately $236,638,959.60. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $88.15 on Friday. The firm has a 50-day simple moving average of $73.82 and a two-hundred day simple moving average of $72.13. The company has a market cap of $9.29 billion, a P/E ratio of 78.01 and a beta of 0.46. Corcept Therapeutics Incorporated has a fifty-two week low of $42.01 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Corcept Therapeutics by 22.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,637 shares of the biotechnology company’s stock worth $385,000 after purchasing an additional 857 shares during the last quarter. Osaic Holdings Inc. grew its stake in Corcept Therapeutics by 37.1% during the 2nd quarter. Osaic Holdings Inc. now owns 16,773 shares of the biotechnology company’s stock valued at $1,320,000 after acquiring an additional 4,541 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Corcept Therapeutics by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 69,399 shares of the biotechnology company’s stock valued at $5,094,000 after acquiring an additional 905 shares in the last quarter. Coppell Advisory Solutions LLC grew its stake in Corcept Therapeutics by 82.6% during the 2nd quarter. Coppell Advisory Solutions LLC now owns 31,615 shares of the biotechnology company’s stock valued at $2,315,000 after acquiring an additional 14,305 shares in the last quarter. Finally, Kestra Investment Management LLC grew its stake in Corcept Therapeutics by 20.9% during the 2nd quarter. Kestra Investment Management LLC now owns 3,040 shares of the biotechnology company’s stock valued at $223,000 after acquiring an additional 526 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CORT. Canaccord Genuity Group reiterated a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Saturday, September 27th. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Finally, Piper Sandler reduced their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $135.25.

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.