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 Thursday, July 10th. The shares were sold at an average price of $71.08, for a total transaction of $156,376.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, June 10th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.61, for a total transaction of $155,342.00.
• On Monday, May 12th, Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock. The shares were sold at an average price of $72.06, for a total transaction of $158,532.00.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $72.77 on Tuesday. Corcept Therapeutics Incorporated has a 12-month low of $31.46 and a 12-month high of $117.33. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 62.73 and a beta of 0.15. The firm’s fifty day moving average price is $72.67 and its 200 day moving average price is $66.60.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $157.21 million during the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. Analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CORT. Vanguard Group Inc. lifted its position in shares of Corcept Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock worth $509,726,000 after buying an additional 109,294 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Corcept Therapeutics by 3.7% in the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company’s stock worth $453,729,000 after buying an additional 142,784 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Corcept Therapeutics by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company’s stock worth $243,708,000 after buying an additional 57,942 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company’s stock worth $82,889,000 after buying an additional 64,321 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company’s stock worth $69,381,000 after buying an additional 153,100 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. HC Wainwright dropped their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Finally, Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.25.

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.