Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells 20,000 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $35.18, for a total value of $703,600.00. Following the completion of the transaction, the insider owned 1,235 shares of the company’s stock, valued at $43,447.30. The trade was a 94.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, December 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were 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 stock was sold at an average price of $80.90, for a total value of $364,050.00.
• On Wednesday, November 5th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $75.36, for a total transaction of $1,507,200.00.

Corcept Therapeutics Trading Down 1.3%

Shares of CORT traded down $0.47 during trading on Thursday, reaching $36.53. 1,863,444 shares of the company traded hands, compared to its average volume of 2,714,316. Corcept Therapeutics Incorporated has a twelve month low of $32.99 and a twelve month high of $117.33. The stock has a market cap of $3.84 billion, a PE ratio of 41.51 and a beta of 0.23. The stock has a 50-day simple moving average of $73.57 and a 200-day simple moving average of $73.80. The company has a quick ratio of 3.07, a current ratio of 3.14 and a debt-to-equity ratio of 0.01.

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

Institutional Trading of Corcept Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CORT. Pathstone Holdings LLC increased its holdings in shares of Corcept Therapeutics by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock valued at $1,497,000 after acquiring an additional 144 shares during the period. Huntington National Bank grew its holdings in shares of Corcept Therapeutics by 54.0% during the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after buying an additional 168 shares during the last quarter. Focus Partners Wealth increased its position in Corcept Therapeutics by 0.5% in the 1st quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock valued at $3,797,000 after acquiring an additional 170 shares during the period. Campbell Newman Asset Management Inc. raised its stake in Corcept Therapeutics by 0.5% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 35,530 shares of the biotechnology company’s stock valued at $2,953,000 after acquiring an additional 170 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Corcept Therapeutics by 1.8% during the 2nd 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 period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on CORT shares. Wolfe Research lowered shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research note on Wednesday, December 31st. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. UBS Group started coverage on shares of Corcept Therapeutics in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price target for the company. Finally, Truist Financial set a $50.00 price objective on Corcept Therapeutics in a research report on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $80.83.

About Corcept Therapeutics

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.