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

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph K. Belanoff sold 1,974 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 3,017,437 shares in the company, valued at $183,550,692.71. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corcept Therapeutics Trading Down 2.1 %

Shares of CORT stock traded down $1.21 on Wednesday, reaching $57.11. The company had a trading volume of 636,435 shares, compared to its average volume of 969,042. The stock has a market cap of $6.03 billion, a PE ratio of 45.33 and a beta of 0.61. The company has a 50-day moving average of $61.86 and a 200-day moving average of $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 12 month low of $20.84 and a 12 month high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $181.89 million during the quarter, compared to the consensus estimate 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 forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on CORT. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.75.

Institutional Trading of Corcept Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Black Diamond Financial LLC grew its stake in Corcept Therapeutics by 4.0% in the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 200 shares during the period. Quadrant Capital Group LLC grew its position in shares of Corcept Therapeutics by 9.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 257 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Corcept Therapeutics by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock valued at $426,000 after buying an additional 268 shares during the period. Hancock Whitney Corp increased its position in shares of Corcept Therapeutics by 1.2% during the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock worth $1,062,000 after acquiring an additional 270 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock worth $1,374,000 after acquiring an additional 289 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

About Corcept Therapeutics

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.