Corcept Therapeutics Incorporated (NASDAQ:CORT) Short Interest Down 7.0% in November

Corcept Therapeutics Incorporated (NASDAQ:CORT) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 17,050,000 shares, a decline of 7.0% from the November 15th total of 18,340,000 shares. Currently, 18.9% of the company’s stock are sold short. Based on an average trading volume of 999,000 shares, the short-interest ratio is currently 17.1 days.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the transaction, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. The trade was a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,811 shares of company stock worth $1,341,360. Insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Corcept Therapeutics in the 3rd quarter worth $25,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Corcept Therapeutics in the 3rd quarter worth $36,000. GAMMA Investing LLC grew its holdings in shares of Corcept Therapeutics by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,147 shares during the last quarter. KBC Group NV boosted its position in shares of Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after buying an additional 496 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Corcept Therapeutics by 125.4% in the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,962 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Performance

NASDAQ:CORT traded up $0.03 during trading hours on Monday, reaching $55.43. 856,095 shares of the stock were exchanged, compared to its average volume of 1,155,995. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $53.28 and a 200-day simple moving average of $41.46. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $62.22. The stock has a market capitalization of $5.81 billion, a P/E ratio of 43.99 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The business had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. As a group, sell-side analysts forecast that Corcept Therapeutics will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CORT shares. Truist Financial increased their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler increased their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $65.25.

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.