Joseph K. Belanoff Sells 2,924 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) CEO Joseph K. Belanoff sold 2,924 shares of Corcept Therapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the transaction, the chief executive officer now directly owns 3,019,411 shares of the company’s stock, valued at approximately $183,912,324.01. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $55.49 on Thursday. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $75.00. The stock’s 50 day moving average is $60.20 and its 200-day moving average is $51.97. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 44.04 and a beta of 0.58.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data 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). The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CORT has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler increased their target price on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.75.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Kestra Investment Management LLC purchased a new stake in Corcept Therapeutics in the 4th quarter valued at $27,000. Capital Performance Advisors LLP purchased a new position in Corcept Therapeutics during the third quarter worth about $25,000. Canada Pension Plan Investment Board bought a new stake in Corcept Therapeutics in the 4th quarter worth about $40,000. National Bank of Canada FI purchased a new stake in Corcept Therapeutics in the 4th quarter valued at about $42,000. Finally, USA Financial Formulas purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth approximately $54,000. 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.