Corcept Therapeutics (NASDAQ:CORT) Stock Price Down 5.3% – Should You Sell?

by · The Cerbat Gem

Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report)’s share price traded down 5.3% during trading on Wednesday . The stock traded as low as $65.92 and last traded at $65.92. 456,637 shares traded hands during trading, a decline of 59% from the average session volume of 1,121,962 shares. The stock had previously closed at $69.59.

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of research reports. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 31st. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Truist Financial lifted their target price on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 31st. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Finally, Piper Sandler lifted their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.25.

Check Out Our Latest Stock Analysis on Corcept Therapeutics

Corcept Therapeutics Stock Performance

The company has a market capitalization of $6.57 billion, a PE ratio of 49.40 and a beta of 0.15. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average is $65.55 and its two-hundred day moving average is $58.19.

Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In related news, insider Sean Maduck sold 18,303 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,110,809.07. Following the completion of the sale, the insider now directly owns 85,622 shares in the company, valued at approximately $5,196,399.18. The trade was a 17.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph K. Belanoff sold 2,924 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the sale, the chief executive officer now directly owns 3,019,411 shares of the company’s stock, valued at approximately $183,912,324.01. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,124 shares of company stock worth $15,117,614 over the last quarter. Company insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Black Diamond Financial LLC increased its holdings in Corcept Therapeutics by 4.0% in the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock worth $262,000 after acquiring an additional 200 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Corcept Therapeutics by 3.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company’s stock worth $909,000 after purchasing an additional 230 shares during the period. Quadrant Capital Group LLC raised its position in shares of Corcept Therapeutics by 9.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 257 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Corcept Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock valued at $426,000 after buying an additional 268 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Corcept Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock worth $1,374,000 after buying an additional 289 shares during the period. Institutional investors own 93.61% of the company’s stock.

About Corcept Therapeutics

(Get Free Report)

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.

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