Corcept Therapeutics (NASDAQ:CORT) Insider William Guyer Sells 16,300 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 16,300 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $113.43, for a total value of $1,848,909.00. Following the sale, the insider owned 3,985 shares in the company, valued at approximately $452,018.55. This trade represents a 80.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, August 4th, William Guyer sold 3,700 shares of Corcept Therapeutics stock. The shares were sold at an average price of $113.12, for a total transaction of $418,544.00.
• On Tuesday, July 7th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $93.13, for a total transaction of $1,862,600.00.
• On Tuesday, June 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.60, for a total value of $1,412,000.00.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $112.18 on Thursday. The firm’s 50-day simple moving average is $91.79 and its 200-day simple moving average is $61.13. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $122.21. The firm has a market cap of $12.13 billion, a P/E ratio of 267.10 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The firm had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 31.7% compared to the same quarter last year. Analysts expect that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CORT. Piper Sandler restated an “overweight” rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Monday, July 27th. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $119.17.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds have recently modified their holdings of the stock. Evolve Private Wealth LLC purchased a new position in Corcept Therapeutics in the 2nd quarter worth approximately $226,000. Westpac Banking Corp acquired a new stake in Corcept Therapeutics in the second quarter valued at approximately $138,000. EP Wealth Advisors LLC purchased a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $422,000. Ieq Capital LLC acquired a new position in shares of Corcept Therapeutics during the second quarter worth $8,034,000. Finally, Allworth Financial LP acquired a new position in shares of Corcept Therapeutics during the second quarter worth $338,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

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.