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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, February 16th. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $39.30.

Corcept Therapeutics Stock Up 3.1 %

The company has a 50 day simple moving average of $23.89 and a two-hundred day simple moving average of $25.44. The company has a market capitalization of $2.39 billion, a P/E ratio of 24.26 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The firm had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. During the same period in the prior year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. As a group, research analysts expect that Corcept Therapeutics Incorporated will post 0.92 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In related 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 value of $48,400.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction 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 is accessible through the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the sale, the chief accounting officer now owns 6,774 shares of the company’s stock, valued at approximately $176,124. The disclosure for this sale can be found here. Over the last three months, 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 Investors Weigh In On Corcept Therapeutics

Institutional investors have recently modified their holdings of the business. Linden Thomas Advisory Services LLC boosted its holdings in Corcept Therapeutics by 0.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock worth $1,529,000 after buying an additional 368 shares during the last quarter. Quadrant Capital Group LLC raised its position in Corcept Therapeutics by 27.0% in the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 448 shares during the period. Nisa Investment Advisors LLC grew its stake in Corcept Therapeutics by 9.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 500 shares in the last quarter. GAMMA Investing LLC grew its holdings in Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 579 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Corcept Therapeutics by 1.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company’s stock valued at $1,444,000 after purchasing an additional 641 shares during the last quarter. 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.