Corcept Therapeutics (NASDAQ:CORT) Insider William Guyer Sells 20,000 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $93.13, for a total transaction of $1,862,600.00. Following the completion of the sale, the insider owned 3,985 shares of the company’s stock, valued at approximately $371,123.05. This trade represents a 83.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, June 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.60, for a total value of $1,412,000.00.
• On Tuesday, May 5th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $51.83, for a total value of $1,036,600.00.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $92.94 on Thursday. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $94.77. The business has a fifty day moving average price of $70.78 and a 200-day moving average price of $52.44. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 265.55 and a beta of 0.47.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The business had revenue of $164.90 million for the quarter, compared to analyst estimates of $185.83 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CORT shares. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. HC Wainwright raised their price target on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. Finally, Piper Sandler upped their target price on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Torren Management LLC purchased a new position in Corcept Therapeutics during the 4th quarter worth approximately $25,000. Advisory Services Network LLC purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at $25,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth $31,000. State of Wyoming increased its stake in shares of Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 186 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of Corcept Therapeutics by 113.7% in the fourth quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 524 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

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.