Corcept Therapeutics Incorporated (NASDAQ:CORT) Director G Leonard Baker, Jr. purchased 105,792 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was bought at an average cost of $12.50 per share, with a total value of $1,322,400.00. Following the completion of the acquisition, the director now directly owns 876,838 shares of the company’s stock, valued at approximately $10,960,475. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of CORT stock opened at $13.65 on Wednesday. The company has a market cap of $1.50 billion, a PE ratio of 31.02 and a beta of 1.70. Corcept Therapeutics Incorporated has a 1-year low of $11.55 and a 1-year high of $25.96.
Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, August 9th. The biotechnology company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.04). The business had revenue of $62.31 million for the quarter, compared to analyst estimates of $68.49 million. Corcept Therapeutics had a return on equity of 38.53% and a net margin of 68.32%. The company’s quarterly revenue was up 75.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. research analysts anticipate that Corcept Therapeutics Incorporated will post 0.6 earnings per share for the current year.
CORT has been the subject of a number of analyst reports. BidaskClub raised Corcept Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. ValuEngine downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. Stifel Nicolaus reissued a “hold” rating and issued a $11.00 price target (down from $20.00) on shares of Corcept Therapeutics in a report on Friday, August 10th. Zacks Investment Research raised Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Friday, April 27th. Finally, B. Riley decreased their price target on Corcept Therapeutics from $30.00 to $22.00 and set a “buy” rating for the company in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Corcept Therapeutics has a consensus rating of “Hold” and an average price target of $22.80.
Hedge funds have recently made changes to their positions in the company. Tyers Asset Management LLC acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth approximately $136,000. Asset Management One Co. Ltd. acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth approximately $150,000. Riverhead Capital Management LLC acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth approximately $155,000. Flinton Capital Management LLC acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth approximately $173,000. Finally, Stifel Financial Corp acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth approximately $182,000. 80.00% of the stock is owned by institutional investors and hedge funds.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery, as well as develops CLIA-validated assay to measure FKBP5 gene expression.
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