Corcept Therapeutics (NASDAQ:CORT) Director Kimberly Park Sells 26,685 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Kimberly Park sold 26,685 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $122.55, for a total value of $3,270,246.75. Following the completion of the sale, the director directly owned 30,000 shares in the company, valued at $3,676,500. This trade represents a 47.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Corcept Therapeutics Stock Down 2.6%

Shares of NASDAQ CORT traded down $3.05 during trading on Friday, reaching $113.88. The company had a trading volume of 917,880 shares, compared to its average volume of 1,517,188. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $126.38. The business’s 50-day moving average is $100.49 and its 200 day moving average is $67.04. The stock has a market cap of $12.31 billion, a PE ratio of 271.15 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. During the same quarter in the previous year, the firm earned $0.29 EPS. Corcept Therapeutics’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of Corcept Therapeutics in a research note on Tuesday, August 18th. They issued a “buy” rating and a $164.00 target price on the stock. HC Wainwright raised their price target on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a report on Thursday, May 28th. Weiss Ratings raised Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Finally, Canaccord Genuity Group increased their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $138.17.

Institutional Trading of Corcept Therapeutics

A number of large investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in Corcept Therapeutics during the third quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Corcept Therapeutics in the 2nd quarter worth approximately $27,000. Larson Financial Group LLC grew its position in Corcept Therapeutics by 2,326.3% in the 3rd quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 442 shares during the period. Gould Capital LLC raised its stake in Corcept Therapeutics by 50.0% during the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 200 shares during the last quarter. Finally, Torren Management LLC purchased a new stake in Corcept Therapeutics during the 4th quarter valued at $25,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.