Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider Roberto Wandenkolk Vieira sold 58,333 shares of Corcept Therapeutics stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $110.76, for a total transaction of $6,460,963.08. Following the transaction, the insider directly owned 4,242 shares of the company’s stock, valued at approximately $469,843.92. This trade represents a 93.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Corcept Therapeutics Trading Up 2.1%
CORT stock traded up $2.37 during mid-day trading on Thursday, hitting $112.80. 611,080 shares of the company were exchanged, compared to its average volume of 825,680. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $126.38. The stock has a market capitalization of $12.19 billion, a PE ratio of 268.58 and a beta of 0.45. The business has a 50 day simple moving average of $103.65 and a 200-day simple moving average of $69.59.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.02 by $0.34. The company had revenue of $256.15 million for the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current year.
Institutional Investors Weigh In On Corcept Therapeutics
Wall Street Analysts Forecast Growth
Several research firms have weighed in on CORT. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research report on Thursday, May 28th. Finally, Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.
View Our Latest Analysis on Corcept Therapeutics
Corcept Therapeutics Company Profile
Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.
The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.
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