Corcept Therapeutics (NASDAQ:CORT) Shares Gap Up to $27.52

Corcept Therapeutics Incorporated (NASDAQ:CORTGet Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $27.52, but opened at $32.00. Corcept Therapeutics shares last traded at $30.85, with a volume of 949,279 shares.

Wall Street Analysts Forecast Growth

CORT has been the topic of several recent research reports. Truist Financial upped their price target on Corcept Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. HC Wainwright upped their price target on Corcept Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.10.

Get Our Latest Report on CORT

Corcept Therapeutics Stock Performance

The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 28.65 and a beta of 0.50. The company has a 50-day moving average price of $25.02 and a 200-day moving average price of $25.20.

Corcept Therapeutics (NASDAQ:CORTGet Free Report) last announced its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $146.80 million during the quarter, compared to analysts’ expectations of $141.19 million. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. The business’s revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. On average, research analysts expect that Corcept Therapeutics Incorporated will post 0.95 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $23.59, for a total value of $51,898.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $23.59, for a total transaction of $51,898.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 25,953 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $25.01, for a total value of $649,084.53. Following the sale, the insider now directly owns 85,222 shares of the company’s stock, valued at $2,131,402.22. The disclosure for this sale can be found here. Insiders sold a total of 121,572 shares of company stock valued at $3,211,123 in the last three months. 20.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

A number of large investors have recently modified their holdings of the business. Norden Group LLC acquired a new stake in shares of Corcept Therapeutics in the 1st quarter valued at approximately $50,081,000. Norges Bank acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $24,603,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Corcept Therapeutics in the 1st quarter valued at approximately $18,426,000. Jupiter Asset Management Ltd. lifted its holdings in shares of Corcept Therapeutics by 1,149.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after buying an additional 684,863 shares during the period. Finally, Clearbridge Investments LLC acquired a new stake in shares of Corcept Therapeutics in the 1st quarter valued at approximately $14,670,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Company Profile

(Get Free Report)

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.

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