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 company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $75.36, for a total value of $1,507,200.00. Following the completion of the transaction, the insider directly owned 5,287 shares in the company, valued at $398,428.32. This trade represents a 79.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, October 7th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $89.94, for a total value of $1,798,800.00.
• On Tuesday, September 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.49, for a total transaction of $1,409,800.00.

Corcept Therapeutics Trading Up 0.9%

Shares of NASDAQ CORT traded up $0.66 during mid-day trading on Friday, reaching $73.72. The company had a trading volume of 646,920 shares, compared to its average volume of 1,205,326. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 65.24 and a beta of 0.43. Corcept Therapeutics Incorporated has a 52 week low of $49.00 and a 52 week high of $117.33. The business’s 50-day moving average is $76.74 and its 200-day moving average is $73.40.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $207.64 million for the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CORT. Concurrent Investment Advisors LLC purchased a new stake in shares of Corcept Therapeutics during the 1st quarter worth $682,000. Envestnet Asset Management Inc. grew its stake in Corcept Therapeutics by 9.0% in the first quarter. Envestnet Asset Management Inc. now owns 31,770 shares of the biotechnology company’s stock valued at $3,629,000 after purchasing an additional 2,613 shares during the last quarter. Cerity Partners LLC raised its holdings in Corcept Therapeutics by 1.1% in the first quarter. Cerity Partners LLC now owns 614,794 shares of the biotechnology company’s stock worth $70,222,000 after purchasing an additional 6,848 shares in the last quarter. Sage Rhino Capital LLC purchased a new stake in shares of Corcept Therapeutics during the first quarter valued at about $366,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Corcept Therapeutics during the first quarter valued at about $4,320,000. 93.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CORT shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Piper Sandler dropped their price target on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, August 1st. Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.25.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.