Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Sells $293,400.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director G Leonard Baker, Jr. sold 30,000 shares of Corcept Therapeutics stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $9.78, for a total transaction of $293,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corcept Therapeutics stock traded up $0.01 during mid-day trading on Friday, reaching $11.15. 932,017 shares of the company traded hands, compared to its average volume of 538,077. The stock’s 50 day moving average price is $10.40. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 18.58 and a beta of 1.54. Corcept Therapeutics Incorporated has a 52-week low of $9.14 and a 52-week high of $19.48.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.03). The company had revenue of $64.80 million for the quarter, compared to analysts’ expectations of $69.29 million. Corcept Therapeutics had a net margin of 29.52% and a return on equity of 28.66%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. Equities research analysts expect that Corcept Therapeutics Incorporated will post 0.78 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Resources Investment Advisors Inc. bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at $35,000. Financial Gravity Companies Inc. bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $31,000. Bremer Trust National Association bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $54,000. Bremer Bank National Association bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at $50,000. Finally, Bank of Montreal Can boosted its holdings in shares of Corcept Therapeutics by 33.1% during the 4th quarter. Bank of Montreal Can now owns 4,831 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 1,202 shares in the last quarter. 75.51% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $14.00 target price on shares of Corcept Therapeutics in a research note on Wednesday, May 1st. BidaskClub raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, TheStreet downgraded shares of Corcept Therapeutics from a “b” rating to a “c+” rating in a research note on Friday, May 10th. Six investment analysts have rated the stock with a hold rating, Corcept Therapeutics presently has an average rating of “Hold” and an average target price of $12.50.

About Corcept Therapeutics

Corcept Therapeutics Incorporated 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.

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