Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph K. Belanoff Sells 1,974 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph K. Belanoff sold 1,974 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $60.83, for a total value of $120,078.42. Following the completion of the transaction, the chief executive officer now directly owns 3,017,437 shares of the company’s stock, valued at approximately $183,550,692.71. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $57.11 on Thursday. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 45.33 and a beta of 0.61. The firm’s 50-day moving average price is $61.86 and its two-hundred day moving average price is $54.31. 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) last released 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). The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on CORT shares. Piper Sandler upped their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $99.75.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC raised its position in Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock worth $22,369,000 after purchasing an additional 262,503 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Corcept Therapeutics during the fourth quarter valued at $4,483,000. State Street Corp boosted its holdings in Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after acquiring an additional 19,893 shares during the last quarter. Burney Co. boosted its holdings in Corcept Therapeutics by 9.1% in the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock valued at $23,876,000 after acquiring an additional 39,657 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Corcept Therapeutics by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after purchasing an additional 76,573 shares during the period. Institutional investors own 93.61% of the company’s stock.

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.