Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $524,628.60 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 7,060 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total transaction of $524,628.60. Following the completion of the transaction, the insider now directly owns 5,487 shares in the company, valued at approximately $407,738.97. This represents a 56.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Corcept Therapeutics Stock Down 1.6 %

Shares of NASDAQ CORT opened at $70.23 on Friday. The stock has a market capitalization of $7.45 billion, a P/E ratio of 55.74 and a beta of 0.22. The stock’s fifty day moving average is $66.86 and its 200 day moving average is $60.87. Corcept Therapeutics Incorporated has a 52 week low of $26.87 and a 52 week high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $157.21 million during the quarter, compared to analysts’ expectations of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Piper Sandler lifted their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. HC Wainwright decreased their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research report on Tuesday. Finally, StockNews.com raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $138.25.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently modified their holdings of the business. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth $27,000. Canada Pension Plan Investment Board acquired a new position in Corcept Therapeutics during the fourth quarter worth about $40,000. National Bank of Canada FI bought a new position in shares of Corcept Therapeutics in the fourth quarter worth about $42,000. USA Financial Formulas acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $54,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at approximately $58,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.