Corcept Therapeutics (NASDAQ:CORT) Trading Up 7.5%

Corcept Therapeutics Incorporated (NASDAQ:CORT) traded up 7.5% during trading on Tuesday . The stock traded as high as $24.23 and last traded at $23.98. 794,321 shares changed hands during trading, a decline of 46% from the average session volume of 1,467,607 shares. The stock had previously closed at $22.30.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial upped their price objective on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, February 16th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and an average target price of $39.30.

Corcept Therapeutics Price Performance

The stock has a market capitalization of $2.42 billion, a PE ratio of 24.93 and a beta of 0.48. The business’s fifty day moving average price is $23.89 and its 200-day moving average price is $25.44.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The firm had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. On average, analysts expect that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the transaction, the insider now owns 74,455 shares in the company, valued at $1,933,596.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,783 shares of company stock valued at $2,118,996. 18.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its position in Corcept Therapeutics by 3,670.0% during the third quarter. Exchange Traded Concepts LLC now owns 43,807 shares of the biotechnology company’s stock valued at $1,194,000 after acquiring an additional 42,645 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Corcept Therapeutics by 11.2% during the third quarter. Handelsbanken Fonder AB now owns 19,881 shares of the biotechnology company’s stock worth $542,000 after acquiring an additional 2,000 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Corcept Therapeutics by 0.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock worth $1,529,000 after acquiring an additional 368 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in shares of Corcept Therapeutics during the third quarter worth approximately $202,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Corcept Therapeutics during the third quarter worth approximately $4,726,000. 93.61% of the stock is currently owned by institutional investors.

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.