Stock Traders Buy Large Volume of Corcept Therapeutics Put Options (NASDAQ:CORT)

Corcept Therapeutics Incorporated (NASDAQ:CORT) was the recipient of some unusual options trading on Monday. Stock traders acquired 4,326 put options on the stock. This is an increase of approximately 197% compared to the typical daily volume of 1,456 put options.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $23.00 on Wednesday. The business’s 50 day simple moving average is $23.89 and its two-hundred day simple moving average is $25.44. The stock has a market capitalization of $2.39 billion, a P/E ratio of 24.26 and a beta of 0.48. Corcept Therapeutics has a one year low of $20.84 and a one year high of $34.28.

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

Wall Street Analyst Weigh In

CORT has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday. Truist Financial lifted their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 17th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $39.30.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the sale, the insider now owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the transaction, the insider now directly owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the transaction, the chief accounting officer now directly owns 6,774 shares in the company, valued at $176,124. The disclosure for this sale can be found here. Insiders have sold a total of 83,783 shares of company stock valued at $2,118,996 in the last 90 days. Corporate insiders own 18.60% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently made changes to their positions in the business. Milestone Asset Management LLC bought a new stake in shares of Corcept Therapeutics in the 1st quarter worth approximately $882,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Corcept Therapeutics in the 1st quarter worth approximately $1,262,000. Norden Group LLC bought a new stake in shares of Corcept Therapeutics during the first quarter valued at approximately $50,081,000. Allspring Global Investments Holdings LLC boosted its position in shares of Corcept Therapeutics by 85.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 126,807 shares of the biotechnology company’s stock valued at $3,194,000 after purchasing an additional 58,468 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new stake in shares of Corcept Therapeutics during the first quarter valued at approximately $236,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Company Profile

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.