Corcept Therapeutics (NASDAQ:CORT) Insider Sells $1,412,000.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $70.60, for a total value of $1,412,000.00. Following the completion of the transaction, the insider owned 3,985 shares of the company’s stock, valued at approximately $281,341. This trade represents a 83.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, May 5th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $51.83, for a total value of $1,036,600.00.
• On Tuesday, April 7th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $40.97, for a total value of $819,400.00.
• On Friday, March 20th, William Guyer sold 11,767 shares of Corcept Therapeutics stock. The stock was sold at an average price of $36.01, for a total value of $423,729.67.

Corcept Therapeutics Trading Down 3.0%

CORT opened at $72.62 on Friday. The stock has a fifty day simple moving average of $51.73 and a two-hundred day simple moving average of $52.15. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 207.49 and a beta of 0.50. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The firm had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.Corcept Therapeutics’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. On average, analysts predict that Corcept Therapeutics Incorporated will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently bought and sold shares of the business. Torren Management LLC bought a new stake in Corcept Therapeutics in the 4th quarter worth about $25,000. Advisory Services Network LLC bought a new stake in Corcept Therapeutics in the 3rd quarter worth about $25,000. Clearstead Advisors LLC increased its holdings in Corcept Therapeutics by 163.6% in the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after buying an additional 193 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Corcept Therapeutics in the 4th quarter worth about $31,000. Finally, State of Wyoming increased its holdings in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after buying an additional 186 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CORT shares. Wolfe Research upgraded Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, HC Wainwright raised their price target on Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $88.83.

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.