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Daniel N. Swisher Jr., a director at Corcept Therapeutics Inc. (NASDAQ:CORT), has recently sold 2,200 shares of common stock, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at a price of $53.60 each, totaling $117,920. This transaction was conducted under a pre-established 10b5-1 plan. The sale comes as CORT shares have delivered impressive returns, surging over 126% in the past year and 55% in the last six months. According to InvestingPro, the company maintains a GREAT financial health score, with a market capitalization of $5.8 billion.
In conjunction with the sale, Swisher exercised stock options to acquire 2,200 shares at a price of $12.13 per share. Following these transactions, Swisher holds no shares directly. The stock option exercise was fully exercisable, with an expiration date set for May 24, 2027. Trading at a P/E ratio of 40.7x, InvestingPro analysis reveals 14 additional key insights about CORT’s valuation and growth prospects, available in the comprehensive Pro Research Report.
In other recent news, Corcept Therapeutics reported its fourth-quarter earnings for 2024, revealing a shortfall in both earnings per share (EPS) and revenue compared to analyst forecasts. The company’s EPS was $0.26, missing the projected $0.38, while revenue stood at $181.89 million, below the expected $198.05 million. Despite these misses, Corcept demonstrated robust annual growth with a 40% increase in revenue, totaling $675 million for the year, and a 33% rise in net income to $141 million. Additionally, Corcept’s new drug application for relacorilant, intended for treating Cushing’s syndrome, has been accepted by the FDA, with a decision expected by December 30, 2025. The company is optimistic about relacorilant, supported by positive results from various clinical trials, including the GRACE and GRADIENT studies. Furthermore, Corcept is expanding its market for hypercortisolism treatments and exploring relacorilant’s potential in oncology. Analysts from firms like Piper Sandler and H.C. Wainwright are closely monitoring Corcept’s developments, particularly the progress of the ROSELLA study in ovarian cancer. These recent developments indicate Corcept’s ongoing efforts to expand its therapeutic offerings and address operational challenges.
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