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In a recent move, Daniel N. Swisher, Jr., a director at Corcept Therapeutics Inc. (NASDAQ:CORT), sold 2,200 shares of the company’s common stock. The shares were sold at a price of $68.08 each, totaling approximately $149,776. The transaction comes as CORT trades near its 52-week high of $71.29, having delivered an impressive 204% return over the past year. According to InvestingPro analysis, the stock appears to be trading above its Fair Value. The transaction, dated February 10, 2025, was conducted under a pre-established 10b5-1 trading plan.
Additionally, Swisher acquired 2,200 shares through the exercise of stock options at a price of $12.13 per share, amounting to a total value of $26,686. Following these transactions, Swisher does not hold any shares of the company’s common stock directly. The company maintains strong financial health with an "GREAT" rating from InvestingPro, supported by a healthy current ratio of 3.7x and minimal debt.
These transactions reflect Swisher’s strategic financial decisions involving Corcept Therapeutics, a company specializing in pharmaceutical preparations. For deeper insights into insider trading patterns and comprehensive analysis, including 17 additional ProTips, access the full CORT Research Report on InvestingPro.
In other recent news, Corcept Therapeutics has been making significant strides in its drug development efforts. H.C. Wainwright recently increased its price target on Corcept shares to $115, citing the potential approval of the company’s drug, relacorilant, as a key driver for future revenue growth. Corcept submitted a New Drug Application to the FDA for relacorilant, a treatment for hypercortisolism, and the drug is expected to receive FDA approval in late 2025.
Canaccord Genuity analysts also raised their price target on Corcept shares to $130, following positive discussions with the company’s management. This adjustment reflects the firm’s confidence in Corcept’s continued clinical and financial progress. In another development, Corcept announced the submission of a new drug application for relacorilant, a treatment for patients with Cushing’s syndrome.
Furthermore, Corcept reported promising results from a Phase 3 long-term extension study of relacorilant for the treatment of hypercortisolism. These recent developments highlight the company’s commitment to advancing its drug portfolio and its potential for significant growth in the future.
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