Hazel Hunt Sells 20,455 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider Hazel Hunt sold 20,455 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $30.89, for a total transaction of $631,854.95. Following the completion of the sale, the insider now owns 73,146 shares in the company, valued at $2,259,479.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Corcept Therapeutics Trading Down 1.3 %

CORT opened at $30.56 on Thursday. Corcept Therapeutics Incorporated has a 12-month low of $17.86 and a 12-month high of $31.90. The firm has a market capitalization of $3.13 billion, a PE ratio of 36.82 and a beta of 0.51. The firm has a 50 day moving average of $24.63 and a two-hundred day moving average of $23.26.

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Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.10. Corcept Therapeutics had a net margin of 22.02% and a return on equity of 19.57%. The company had revenue of $117.72 million during the quarter, compared to analyst estimates of $109.60 million. During the same period last year, the firm posted $0.24 EPS. Corcept Therapeutics’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, analysts predict that Corcept Therapeutics Incorporated will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. HC Wainwright raised their price target on shares of Corcept Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Truist Financial lifted their target price on shares of Corcept Therapeutics from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. LADENBURG THALM/SH SH lifted their target price on shares of Corcept Therapeutics from $44.00 to $47.50 in a research note on Thursday, August 3rd. Piper Sandler lifted their target price on shares of Corcept Therapeutics from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Finally, StockNews.com assumed coverage on shares of Corcept Therapeutics in a research note on Thursday. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.44.

Check Out Our Latest Stock Report on Corcept Therapeutics

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC raised its position in Corcept Therapeutics by 0.5% during the 1st quarter. Barclays PLC now owns 85,961 shares of the biotechnology company’s stock worth $1,862,000 after buying an additional 427 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Corcept Therapeutics by 3.0% during the 2nd quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock valued at $394,000 after purchasing an additional 427 shares in the last quarter. Campbell Newman Asset Management Inc. increased its holdings in shares of Corcept Therapeutics by 1.0% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 48,645 shares of the biotechnology company’s stock valued at $1,054,000 after purchasing an additional 459 shares in the last quarter. Meritage Portfolio Management increased its holdings in shares of Corcept Therapeutics by 3.2% during the 4th quarter. Meritage Portfolio Management now owns 19,662 shares of the biotechnology company’s stock valued at $399,000 after purchasing an additional 607 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Corcept Therapeutics by 0.3% during the 2nd quarter. Captrust Financial Advisors now owns 228,167 shares of the biotechnology company’s stock valued at $5,077,000 after purchasing an additional 621 shares in the last quarter. 84.72% of the stock is owned by hedge funds and other institutional investors.

About Corcept Therapeutics

(Get Free Report)

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

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