Corcept Therapeutics (NASDAQ:CORT) Trading Up 7.5%

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CORT. Truist Financial lifted their price objective on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, February 16th. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday. Finally, StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $39.30.

Corcept Therapeutics Stock Performance

The company’s 50 day moving average price is $23.86 and its 200 day moving average price is $25.40. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 23.74 and a beta of 0.48.

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, beating the consensus estimate of $0.25 by $0.03. The firm 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 last year, the firm posted $0.14 EPS. As a group, analysts predict that Corcept Therapeutics Incorporated will post 0.92 EPS for the current year.

Insider Transactions at Corcept Therapeutics

In other 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 transaction of $48,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction 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 transaction, the insider now owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 in the last three months. 19.80% of the stock is owned by corporate insiders.

Institutional Trading of Corcept Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CORT. Norden Group LLC acquired a new stake in shares of Corcept Therapeutics during the 1st quarter worth approximately $50,081,000. Norges Bank acquired a new stake in Corcept Therapeutics during the 4th quarter worth $24,603,000. Intrinsic Edge Capital Management LLC acquired a new stake in Corcept Therapeutics during the 4th quarter worth $15,164,000. FMR LLC raised its position in shares of Corcept Therapeutics by 102.4% during the 3rd quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock valued at $18,634,000 after acquiring an additional 346,000 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Corcept Therapeutics by 2,922.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 324,271 shares of the biotechnology company’s stock valued at $8,168,000 after purchasing an additional 313,543 shares during the period. 93.61% of the stock is 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.