Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. Sells 2,200 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Daniel N. Swisher, Jr. also recently made the following trade(s):

• On Tuesday, December 10th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The shares were sold at an average price of $59.46, for a total value of $130,812.00.
• On Monday, November 11th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $51.66 on Wednesday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $62.22. The stock’s 50-day moving average price is $54.90 and its 200 day moving average price is $44.47. 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 stock has a market capitalization of $5.41 billion, a PE ratio of 41.00 and a beta of 0.56.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CORT. Jacobs Levy Equity Management Inc. lifted its position in Corcept Therapeutics by 40.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after purchasing an additional 352,947 shares during the period. FMR LLC boosted its stake in shares of Corcept Therapeutics by 24.6% in the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after buying an additional 269,074 shares in the last quarter. M&G PLC purchased a new position in Corcept Therapeutics in the third quarter worth $11,173,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Corcept Therapeutics by 20.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock valued at $39,781,000 after acquiring an additional 143,507 shares during the period. Finally, abrdn plc boosted its position in shares of Corcept Therapeutics by 27.1% during the 3rd quarter. abrdn plc now owns 666,952 shares of the biotechnology company’s stock worth $30,867,000 after purchasing an additional 142,310 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CORT. Piper Sandler increased their target price 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. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Truist Financial upped their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics presently has an average rating of “Buy” and a consensus target price of $65.25.

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.