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

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Robert S. Fishman sold 8,000 shares of Corcept Therapeutics stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $13.74, for a total transaction of $109,920.00. Following the transaction, the insider now directly owns 8,000 shares of the company’s stock, valued at $109,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of CORT opened at $13.01 on Friday. The firm has a market cap of $1.55 billion, a PE 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 issued its earnings results on Thursday, November 1st. The biotechnology company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The company had revenue of $64.45 million for the quarter, compared to analysts’ expectations of $67.42 million. Corcept Therapeutics had a net margin of 63.79% and a return on equity of 32.96%. The firm’s revenue for the quarter was up 50.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 0.6 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of CORT. Intrust Bank NA lifted its stake in Corcept Therapeutics by 32.0% in the second quarter. Intrust Bank NA now owns 15,286 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 3,704 shares during the period. Xact Kapitalforvaltning AB lifted its stake in Corcept Therapeutics by 34.0% in the second quarter. Xact Kapitalforvaltning AB now owns 17,360 shares of the biotechnology company’s stock worth $273,000 after acquiring an additional 4,400 shares during the period. Texas Permanent School Fund lifted its stake in Corcept Therapeutics by 7.6% in the third quarter. Texas Permanent School Fund now owns 66,448 shares of the biotechnology company’s stock worth $932,000 after acquiring an additional 4,718 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Corcept Therapeutics by 24.6% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,211 shares of the biotechnology company’s stock worth $353,000 after acquiring an additional 4,979 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its stake in Corcept Therapeutics by 145.3% in the third quarter. Public Employees Retirement Association of Colorado now owns 12,525 shares of the biotechnology company’s stock worth $176,000 after acquiring an additional 7,420 shares during the period. 75.20% of the stock is owned by hedge funds and other institutional investors.

Several research firms have commented on CORT. BidaskClub raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday. Cantor Fitzgerald set a $17.00 target price on shares of Corcept Therapeutics and gave the company a “hold” rating in a research note on Monday, October 1st. ValuEngine lowered shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. B. Riley lowered their target price on shares of Corcept Therapeutics from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, August 13th. Finally, Zacks Investment Research raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. One 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’s stock. Corcept Therapeutics has a consensus 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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