Corcept Therapeutics (NASDAQ:CORT) Hits New 12-Month Low at $20.84

Corcept Therapeutics Incorporated (NASDAQ:CORT) shares hit a new 52-week low during trading on Monday . The company traded as low as $20.84 and last traded at $22.22, with a volume of 2151178 shares trading hands. The stock had previously closed at $22.95.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CORT. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 17th. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday. Finally, Truist Financial upped their price objective on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics has a consensus rating of “Buy” and a consensus price target of $39.30.

Corcept Therapeutics Trading Up 3.1 %

The business has a 50-day moving average price of $23.89 and a two-hundred day moving average price of $25.44. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 24.26 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 for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the sale, the insider now directly owns 74,455 shares in the company, valued at approximately $1,933,596.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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. In the last ninety days, insiders have sold 83,783 shares of company stock worth $2,118,996. 18.60% of the stock is currently owned by company insiders.

Institutional Trading of Corcept Therapeutics

Several large investors have recently added to or reduced their stakes in CORT. FinTrust Capital Advisors LLC acquired a new stake in Corcept Therapeutics in the 3rd quarter valued at approximately $27,000. GAMMA Investing LLC increased its position in Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 579 shares during the period. FNY Investment Advisers LLC bought a new position in Corcept Therapeutics during the 4th quarter valued at $32,000. Gladius Capital Management LP bought a new position in Corcept Therapeutics during the 4th quarter valued at $36,000. Finally, Planned Solutions Inc. bought a new position in Corcept Therapeutics during the 4th quarter valued at $45,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.