Corcept Therapeutics (NASDAQ:CORT) Stock Price Up 7.5%

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

Analysts Set New Price Targets

CORT has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, HC Wainwright reissued a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and an average price target of $39.30.

Corcept Therapeutics Trading Down 1.2 %

The business’s 50-day simple moving average is $23.86 and its 200-day simple moving average is $25.40. The company has a market capitalization of $2.31 billion, a PE ratio of 23.74 and a beta of 0.48.

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

Insider Buying and Selling at Corcept Therapeutics

In other 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 stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Douglas Lyon sold 5,443 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the sale, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $190,164. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,783 shares of company stock valued at $2,118,996. 19.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently modified their holdings of CORT. Vanguard Group Inc. grew its holdings in shares of Corcept Therapeutics by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 9,537,532 shares of the biotechnology company’s stock worth $309,779,000 after purchasing an additional 239,887 shares during the period. Parallel Advisors LLC raised its holdings in shares of Corcept Therapeutics by 1.2% in the 4th quarter. Parallel Advisors LLC now owns 3,768,245 shares of the biotechnology company’s stock valued at $122,393,000 after buying an additional 44,762 shares during the period. Norden Group LLC acquired a new position in Corcept Therapeutics during the 1st quarter worth about $50,081,000. Boston Trust Walden Corp boosted its holdings in Corcept Therapeutics by 1.1% during the 4th quarter. Boston Trust Walden Corp now owns 1,846,924 shares of the biotechnology company’s stock valued at $59,988,000 after acquiring an additional 19,877 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Corcept Therapeutics by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 900,444 shares of the biotechnology company’s stock valued at $29,246,000 after acquiring an additional 39,111 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.