Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) Director James Wilson sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $111.43, for a total transaction of $1,114,300.00. Following the completion of the sale, the director directly owned 1,074,543 shares in the company, valued at approximately $119,736,326.49. The trade was a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Corcept Therapeutics Stock Up 1.7%
Shares of Corcept Therapeutics stock opened at $121.05 on Friday. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 288.22 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $122.21. The company’s 50-day simple moving average is $96.60 and its 200-day simple moving average is $64.19.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. The company had revenue of $256.15 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 EPS. Equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.61 EPS for the current year.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on Corcept Therapeutics
Institutional Trading of Corcept Therapeutics
A number of institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Corcept Therapeutics by 18.9% during the 1st quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock worth $1,757,000 after buying an additional 2,444 shares during the last quarter. Amundi acquired a new stake in Corcept Therapeutics in the 1st quarter valued at about $450,000. NewEdge Advisors LLC purchased a new position in Corcept Therapeutics during the 1st quarter valued at about $518,000. EverSource Wealth Advisors LLC increased its holdings in Corcept Therapeutics by 273.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock valued at $106,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Corcept Therapeutics by 795.3% during the second quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock worth $3,391,000 after acquiring an additional 41,040 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.
About Corcept Therapeutics
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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