Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $1,798,800.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $89.94, for a total transaction of $1,798,800.00. Following the completion of the transaction, the insider owned 5,287 shares in the company, valued at approximately $475,512.78. This represents a 79.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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.
• On Friday, August 8th, William Guyer sold 35,007 shares of Corcept Therapeutics stock. The shares were sold at an average price of $71.77, for a total transaction of $2,512,452.39.
• On Tuesday, August 5th, William Guyer sold 14 shares of Corcept Therapeutics stock. The shares were sold at an average price of $71.77, for a total transaction of $1,004.78.
• On Friday, July 18th, William Guyer sold 500 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.44, for a total transaction of $36,720.00.
• On Thursday, July 17th, William Guyer sold 4,379 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.48, for a total transaction of $321,768.92.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $73.96 on Friday. The firm has a 50-day moving average of $75.57 and a 200-day moving average of $73.19. The stock has a market cap of $7.79 billion, a PE ratio of 65.45 and a beta of 0.46. Corcept Therapeutics Incorporated has a 52-week low of $42.01 and a 52-week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $194.43 million during the quarter, compared to analysts’ expectations of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. Corcept Therapeutics’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CORT. Canaccord Genuity Group reissued a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Zacks Research cut shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. HC Wainwright reaffirmed a “buy” rating and set a $145.00 price objective on shares of Corcept Therapeutics in a research report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $135.25.

Institutional Investors Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank lifted its holdings in shares of Corcept Therapeutics by 54.0% in the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 168 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Corcept Therapeutics by 0.5% in the first quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock worth $3,797,000 after acquiring an additional 170 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 1.8% in the second quarter. Nisa Investment Advisors LLC now owns 9,951 shares of the biotechnology company’s stock worth $730,000 after acquiring an additional 180 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 186 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Corcept Therapeutics by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock worth $3,237,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

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.