Corcept Therapeutics (NASDAQ:CORT) Insider William Guyer Sells 20,000 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $70.60, for a total transaction of $1,412,000.00. Following the sale, the insider owned 3,985 shares of the company’s stock, valued at $281,341. This trade represents a 83.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

William Guyer also recently made the following trade(s):

• On Tuesday, May 5th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $51.83, for a total transaction of $1,036,600.00.
• On Tuesday, April 7th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $40.97, for a total transaction of $819,400.00.
• On Friday, March 20th, William Guyer sold 11,767 shares of Corcept Therapeutics stock. The stock was sold at an average price of $36.01, for a total transaction of $423,729.67.

Corcept Therapeutics Trading Up 3.1%

CORT stock traded up $2.24 during mid-day trading on Thursday, hitting $74.89. 893,241 shares of the company were exchanged, compared to its average volume of 1,751,188. The stock has a market capitalization of $8.04 billion, a PE ratio of 213.98 and a beta of 0.50. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $91.00. The business has a 50 day simple moving average of $50.26 and a 200-day simple moving average of $52.01.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The business had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. Equities research analysts expect that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current year.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Torren Management LLC bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $25,000. Advisory Services Network LLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter worth approximately $25,000. Clearstead Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 163.6% during the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 193 shares during the period. Atlas Capital Advisors Inc. bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $31,000. Finally, State of Wyoming lifted its holdings in shares of Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 186 shares during the period. Institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

CORT has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a report on Thursday, May 28th. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wolfe Research raised shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.