Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $509,080.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total transaction of $509,080.00. Following the transaction, the insider now owns 22,772 shares in the company, valued at $1,053,888.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Gary Charles Robb also recently made the following trade(s):

• On Monday, August 26th, Gary Charles Robb sold 3,101 shares of Corcept Therapeutics stock. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71.

Corcept Therapeutics Trading Down 1.8 %

Shares of Corcept Therapeutics stock opened at $45.04 on Friday. The stock’s fifty day simple moving average is $37.10 and its 200 day simple moving average is $31.20. The company has a market capitalization of $4.69 billion, a PE ratio of 42.49 and a beta of 0.45. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $47.71.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The company had revenue of $163.80 million for the quarter, compared to analyst estimates of $155.14 million. During the same quarter last year, the firm posted $0.25 earnings per share. Corcept Therapeutics’s revenue was up 39.1% compared to the same quarter last year. Analysts predict that Corcept Therapeutics Incorporated will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CORT. HC Wainwright increased their price target on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Truist Financial increased their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, Piper Sandler increased their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $56.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Norden Group LLC acquired a new stake in shares of Corcept Therapeutics during the first quarter worth $50,081,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Corcept Therapeutics in the 1st quarter valued at about $18,426,000. Jupiter Asset Management Ltd. raised its stake in shares of Corcept Therapeutics by 1,149.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after purchasing an additional 684,863 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Corcept Therapeutics in the first quarter valued at about $14,670,000. Finally, Intrinsic Edge Capital Management LLC acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth about $15,164,000. Institutional investors 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.