William Guyer Sells 32,262 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 32,262 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $74.17, for a total value of $2,392,872.54. Following the sale, the insider now owns 5,487 shares of the company’s stock, valued at $406,970.79. The trade was a 85.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, May 6th, William Guyer sold 7,060 shares of Corcept Therapeutics stock. The shares were sold at an average price of $74.31, for a total transaction of $524,628.60.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $76.09 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $27.30 and a 12 month high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The firm has a market capitalization of $8.07 billion, a P/E ratio of 60.39 and a beta of 0.22. The company’s fifty day moving average price is $70.15 and its two-hundred day moving average price is $62.38.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CORT shares. HC Wainwright dropped their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a research note on Tuesday, May 6th. Piper Sandler increased their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Finally, Wall Street Zen lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.25.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors have recently made changes to their positions in CORT. Vanguard Group Inc. grew its position in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock worth $509,726,000 after buying an additional 109,294 shares in the last quarter. Parallel Advisors LLC boosted its stake in Corcept Therapeutics by 3.7% during the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company’s stock valued at $453,729,000 after acquiring an additional 142,784 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Corcept Therapeutics by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company’s stock worth $243,708,000 after acquiring an additional 57,942 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company’s stock worth $82,889,000 after purchasing an additional 64,321 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company’s stock valued at $69,381,000 after purchasing an additional 153,100 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

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.