Insider Selling: Corcept Therapeutics Incorporated (CORT) Director Sells 269,955 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Patrick G. Enright sold 269,955 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $9.94, for a total value of $2,683,352.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Corcept Therapeutics Incorporated (NASDAQ:CORT) traded up 4.95% on Monday, reaching $10.39. The company had a trading volume of 1,015,565 shares. The company’s 50-day moving average is $8.77 and its 200-day moving average is $7.74. The company has a market capitalization of $1.17 billion, a PE ratio of 148.43 and a beta of 1.72. Corcept Therapeutics Incorporated has a 52-week low of $4.01 and a 52-week high of $11.40.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Monday, March 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Corcept Therapeutics had a return on equity of 28.11% and a net margin of 6.21%. Equities analysts anticipate that Corcept Therapeutics Incorporated will post $0.26 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Numeric Investors LLC increased its position in shares of Corcept Therapeutics by 114.3% in the fourth quarter. Numeric Investors LLC now owns 264,913 shares of the company’s stock valued at $1,923,000 after buying an additional 141,321 shares during the period. AQR Capital Management LLC increased its position in shares of Corcept Therapeutics by 18.6% in the fourth quarter. AQR Capital Management LLC now owns 142,292 shares of the company’s stock valued at $1,033,000 after buying an additional 22,313 shares during the period. Bogle Investment Management L P DE bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $2,409,000. Two Sigma Investments LP increased its position in shares of Corcept Therapeutics by 180.1% in the fourth quarter. Two Sigma Investments LP now owns 612,800 shares of the company’s stock valued at $4,449,000 after buying an additional 393,999 shares during the period. Finally, Intellectus Partners LLC bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $1,092,000. Institutional investors own 43.57% of the company’s stock.

Several research analysts have recently weighed in on CORT shares. Janney Montgomery Scott started coverage on Corcept Therapeutics in a research note on Tuesday, December 20th. They set a “sell” rating and a $7.00 target price for the company. Ladenburg Thalmann Financial Services started coverage on Corcept Therapeutics in a research note on Thursday, February 2nd. They set a “buy” rating and a $14.00 target price for the company. Zacks Investment Research downgraded Corcept Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, February 2nd. TheStreet raised Corcept Therapeutics from a “c+” rating to a “b” rating in a research note on Friday, March 10th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $18.00 price objective (up from $12.00) on shares of Corcept Therapeutics in a research note on Wednesday, March 15th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.75.

Corcept Therapeutics Company Profile

Corcept Therapeutics Inc is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.

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