William Guyer Sells 4,500 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 4,500 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $80.90, for a total value of $364,050.00. Following the sale, the insider directly owned 787 shares of the company’s stock, valued at approximately $63,668.30. This represents a 85.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, November 5th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $75.36, for a total transaction of $1,507,200.00.
• On Tuesday, October 7th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were 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 stock was sold at an average price of $70.49, for a total value of $1,409,800.00.

Corcept Therapeutics Price Performance

Shares of CORT stock traded down $0.48 during midday trading on Wednesday, reaching $79.80. 761,218 shares of the company traded hands, compared to its average volume of 1,170,357. Corcept Therapeutics Incorporated has a 1-year low of $49.00 and a 1-year high of $117.33. The firm has a market cap of $8.39 billion, a PE ratio of 70.62 and a beta of 0.43. The firm’s 50 day simple moving average is $78.17 and its two-hundred day simple moving average is $73.99.

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

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in shares of Corcept Therapeutics by 546.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock valued at $125,264,000 after purchasing an additional 1,274,215 shares during the period. Norges Bank purchased a new position in Corcept Therapeutics during the second quarter valued at approximately $72,048,000. TD Asset Management Inc acquired a new position in Corcept Therapeutics in the 2nd quarter valued at approximately $60,179,000. Epoch Investment Partners Inc. purchased a new stake in Corcept Therapeutics in the 2nd quarter worth approximately $56,181,000. Finally, Jupiter Asset Management Ltd. boosted its stake in shares of Corcept Therapeutics by 8,176.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company’s stock valued at $68,978,000 after buying an additional 596,606 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a report on Thursday, September 25th. Wolfe Research began coverage on Corcept Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Zacks Research lowered Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Piper Sandler dropped their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Corcept Therapeutics in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $135.25.

About Corcept Therapeutics

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.