Corcept Therapeutics Target of Unusually High Options Trading (NASDAQ:CORT)

Corcept Therapeutics Incorporated (NASDAQ:CORT) was the recipient of some unusual options trading activity on Friday. Traders bought 1,200 put options on the stock. This represents an increase of approximately 802% compared to the typical daily volume of 133 put options.

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $17.59, for a total value of $527,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert S. Fishman sold 8,000 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $18.67, for a total transaction of $149,360.00. Following the completion of the sale, the insider now directly owns 8,000 shares of the company’s stock, valued at approximately $149,360. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $810,820 in the last 90 days. 19.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CORT. Bank of Montreal Can raised its position in Corcept Therapeutics by 111.2% in the second quarter. Bank of Montreal Can now owns 34,931 shares of the biotechnology company’s stock worth $413,000 after acquiring an additional 18,389 shares in the last quarter. Birchview Capital LP raised its position in Corcept Therapeutics by 58.3% in the second quarter. Birchview Capital LP now owns 95,000 shares of the biotechnology company’s stock worth $1,121,000 after acquiring an additional 35,000 shares in the last quarter. California Public Employees Retirement System raised its position in Corcept Therapeutics by 3.6% in the second quarter. California Public Employees Retirement System now owns 148,200 shares of the biotechnology company’s stock worth $1,749,000 after acquiring an additional 5,200 shares in the last quarter. Prudential Financial Inc. raised its position in Corcept Therapeutics by 3,409.5% in the second quarter. Prudential Financial Inc. now owns 633,223 shares of the biotechnology company’s stock worth $7,472,000 after acquiring an additional 615,180 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Corcept Therapeutics by 21.5% in the second quarter. Rhumbline Advisers now owns 87,672 shares of the biotechnology company’s stock worth $1,035,000 after acquiring an additional 15,494 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

A number of research firms have recently weighed in on CORT. Piper Jaffray Companies set a $30.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 31st. BidaskClub downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Finally, Zacks Investment Research downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Corcept Therapeutics presently has an average rating of “Buy” and a consensus price target of $21.00.

Corcept Therapeutics (NASDAQ CORT) traded up $0.04 during mid-day trading on Thursday, reaching $20.85. The company’s stock had a trading volume of 1,862,109 shares, compared to its average volume of 1,672,681. The company has a market capitalization of $2,380.00, a PE ratio of 71.90 and a beta of 1.89. Corcept Therapeutics has a 12 month low of $6.70 and a 12 month high of $20.94.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Corcept Therapeutics had a net margin of 27.28% and a return on equity of 58.17%. The company had revenue of $42.70 million during the quarter, compared to the consensus estimate of $41.64 million. During the same quarter in the previous year, the business posted $0.02 earnings per share. The business’s quarterly revenue was up 96.8% compared to the same quarter last year. equities analysts forecast that Corcept Therapeutics will post 0.47 EPS for the current fiscal year.

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Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated 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 is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

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