Corcept Therapeutics (NASDAQ:CORT) Stock Price Down 9.3% – Should You Sell?

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s stock price fell 9.3% during trading on Thursday . The stock traded as low as $67.77 and last traded at $66.70. 296,142 shares changed hands during trading, a decline of 64% from the average session volume of 825,079 shares. The stock had previously closed at $73.53.

Analysts Set New Price Targets

Several research firms recently commented on CORT. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Friday, February 7th. Finally, Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $88.25.

Corcept Therapeutics Price Performance

The company’s fifty day simple moving average is $59.13 and its 200-day simple moving average is $50.46. 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 stock has a market cap of $6.66 billion, a P/E ratio of 50.43 and a beta of 0.58.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,600 shares of company stock valued at $1,399,576. 20.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Corcept Therapeutics by 1.1% during 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 in the last quarter. Parallel Advisors LLC lifted its position in Corcept Therapeutics by 0.4% during the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company’s stock worth $192,975,000 after buying an additional 15,908 shares in the last quarter. State Street Corp lifted its position in Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after buying an additional 19,893 shares in the last quarter. Geode Capital Management LLC lifted its position in Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after buying an additional 99,470 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Corcept Therapeutics by 4.1% during 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 in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

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.