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

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 stock was sold at an average price of $60.83, for a total transaction of $120,078.42. Following the transaction, the chief executive officer now owns 3,017,437 shares of the company’s stock, valued at $183,550,692.71. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $54.63 on Friday. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00. The stock has a market cap of $5.76 billion, a PE ratio of 43.36 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a 50 day moving average price of $61.89 and a 200 day moving average price of $54.47.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CORT. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $27,000. Canada Pension Plan Investment Board acquired a new stake in Corcept Therapeutics during the fourth quarter worth $40,000. National Bank of Canada FI acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $42,000. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $58,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.