Corcept Therapeutics Sees Unusually Large Options Volume (NASDAQ:CORT)

Corcept Therapeutics Incorporated (NASDAQ:CORT) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 3,892 put options on the stock. This represents an increase of approximately 129% compared to the typical daily volume of 1,699 put options.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $91.93 on Wednesday. The stock has a fifty day moving average price of $63.69 and a 200 day moving average price of $55.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a market cap of $9.70 billion, a PE ratio of 72.96 and a beta of 0.61. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Sell-side analysts forecast that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,022 shares of company stock worth $2,703,257 in the last quarter. Company insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Kestra Investment Management LLC acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $27,000. Canada Pension Plan Investment Board purchased a new position in Corcept Therapeutics during the fourth quarter worth $40,000. National Bank of Canada FI purchased a new position in Corcept Therapeutics during the fourth quarter worth $42,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $58,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial lifted their price target on Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler increased their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, HC Wainwright increased their price target on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $130.00.

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.