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In a recent transaction disclosed by Corcept Therapeutics Inc. (NASDAQ:CORT), Director Daniel N. Swisher Jr. executed a notable sale of company stock. According to the SEC filing, Swisher sold 2,200 shares of common stock at a price of $68.08 per share, totaling approximately $149,776. This transaction was conducted under a pre-established 10b5-1 trading plan. The sale comes as CORT trades near its 52-week high of $71.29, with the stock delivering an impressive 204% return over the past year. InvestingPro analysis indicates the stock is currently trading above its Fair Value.
Additionally, Swisher exercised stock options to acquire 2,200 shares at a price of $12.13 per share, but these shares were subsequently sold on the same day. The transaction highlights Swisher’s continued involvement in managing his equity holdings in the company. Following these transactions, Swisher no longer holds any shares directly. With an overall "GREAT" financial health score on InvestingPro and a strong current ratio of 3.7, the company maintains robust financial stability.
Corcept Therapeutics, based in Redwood (NYSE:RWT) City, California, specializes in pharmaceutical preparations, with a focus on the development of treatments for severe metabolic, oncologic, and psychiatric disorders. The company boasts a remarkable 98.4% gross profit margin and has achieved 39.7% revenue growth in the last twelve months. Subscribers to InvestingPro can access 17 additional investment tips and a comprehensive Pro Research Report for deeper insights into CORT’s performance and outlook.
In other recent news, Corcept Therapeutics has seen a series of positive analyst predictions and significant developments in its drug pipeline. H.C. Wainwright recently increased its price target on Corcept shares to $115, citing the potential approval of the company’s selective cortisol modulator, relacorilant. The firm maintains a Buy rating on the stock, projecting that revenues related to Cushing’s syndrome treatments could surge to nearly $824 million by 2030, up from an estimated $175 million in 2026.
Additionally, Canaccord Genuity analysts have raised their price target on Corcept shares to $130, following a meeting with the company’s management that highlighted clinical and revenue achievements. The revised models have led to a significant increase in the 12-month price target for Corcept, reflecting the firm’s confidence in the company’s continued progress.
Corcept has also submitted a New Drug Application (NDA) to the FDA for relacorilant as a treatment for hypercortisolism, following positive outcomes from various trials. The drug has received orphan drug designation in the United States and the European Union for the treatment of Cushing’s syndrome.
Lastly, the company reported promising results from a Phase 3 long-term extension study of relacorilant for the treatment of hypercortisolism. The study demonstrated clinically meaningful improvements in cardiometabolic health, including sustained reductions in blood pressure and maintenance of glycemic control and body weight. These are the latest developments for Corcept Therapeutics.
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