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 stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $40.87, for a total value of $817,400.00. Following the transaction, the insider owned 1,235 shares in the company, valued at approximately $50,474.45. This trade represents a 94.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, January 6th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $35.18, for a total value of $703,600.00.
• On Tuesday, December 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $80.08, for a total value of $1,601,600.00.
• On Tuesday, November 25th, William Guyer sold 4,500 shares of Corcept Therapeutics stock. The shares were sold at an average price of $80.90, for a total transaction of $364,050.00.

Corcept Therapeutics Trading Down 1.9%

CORT stock opened at $39.38 on Friday. Corcept Therapeutics Incorporated has a 52 week low of $32.99 and a 52 week high of $117.33. The company has a market capitalization of $4.14 billion, a PE ratio of 44.18 and a beta of 0.25. The company’s 50-day simple moving average is $58.96 and its 200 day simple moving average is $69.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The business had revenue of $207.64 million during the quarter, compared to the consensus estimate of $223.78 million. During the same period in the prior year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently modified their holdings of the business. Abacus FCF Advisors LLC acquired a new stake in Corcept Therapeutics during the third quarter worth approximately $3,238,000. Pacer Advisors Inc. boosted its holdings in shares of Corcept Therapeutics by 6,796.7% during the 3rd quarter. Pacer Advisors Inc. now owns 390,559 shares of the biotechnology company’s stock worth $32,459,000 after buying an additional 384,896 shares in the last quarter. Brown Capital Management LLC acquired a new stake in shares of Corcept Therapeutics during the 3rd quarter worth approximately $19,950,000. Cerity Partners LLC increased its stake in shares of Corcept Therapeutics by 21.4% in the 2nd quarter. Cerity Partners LLC now owns 746,593 shares of the biotechnology company’s stock valued at $54,800,000 after acquiring an additional 131,799 shares in the last quarter. Finally, Synergy Asset Management LLC lifted its position in shares of Corcept Therapeutics by 96.1% during the 3rd quarter. Synergy Asset Management LLC now owns 506,856 shares of the biotechnology company’s stock valued at $39,615,000 after acquiring an additional 248,362 shares during the period. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CORT has been the subject of several recent analyst reports. Truist Financial set a $50.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, December 31st. Zacks Research cut Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Wednesday, December 31st. Finally, HC Wainwright boosted their target price on shares of Corcept Therapeutics from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $83.50.

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.