Corcept Therapeutics Incorporated (CORT) Insider Robert S. Fishman Sells 8,000 Shares

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Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Robert S. Fishman sold 8,000 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $13.74, for a total value of $109,920.00. Following the transaction, the insider now directly owns 8,000 shares in the company, valued at $109,920. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of NASDAQ:CORT traded down $0.37 during midday trading on Friday, hitting $13.01. The company had a trading volume of 1,231,630 shares, compared to its average volume of 1,460,078. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 29.57 and a beta of 1.80. Corcept Therapeutics Incorporated has a 12-month low of $11.21 and a 12-month high of $25.96.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $64.45 million during the quarter, compared to analysts’ expectations of $67.42 million. Corcept Therapeutics had a return on equity of 32.96% and a net margin of 63.79%. The company’s revenue for the quarter was up 50.7% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. Research analysts anticipate that Corcept Therapeutics Incorporated will post 0.6 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Intrust Bank NA increased its stake in Corcept Therapeutics by 32.0% in the 2nd quarter. Intrust Bank NA now owns 15,286 shares of the biotechnology company’s stock worth $240,000 after buying an additional 3,704 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in Corcept Therapeutics by 34.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 17,360 shares of the biotechnology company’s stock worth $273,000 after buying an additional 4,400 shares in the last quarter. Texas Permanent School Fund increased its stake in Corcept Therapeutics by 7.6% in the 3rd quarter. Texas Permanent School Fund now owns 66,448 shares of the biotechnology company’s stock worth $932,000 after buying an additional 4,718 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Corcept Therapeutics by 24.6% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,211 shares of the biotechnology company’s stock worth $353,000 after buying an additional 4,979 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Corcept Therapeutics by 145.3% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 12,525 shares of the biotechnology company’s stock worth $176,000 after buying an additional 7,420 shares in the last quarter. Hedge funds and other institutional investors own 75.20% of the company’s stock.

Several equities research analysts have recently commented on CORT shares. BidaskClub upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday. Cantor Fitzgerald restated a “hold” rating and issued a $17.00 price objective on shares of Corcept Therapeutics in a research note on Friday, November 2nd. Zacks Investment Research upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, ValuEngine lowered Corcept Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Corcept Therapeutics currently has an average rating of “Hold” and an average price target of $21.83.

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About Corcept Therapeutics

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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