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

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $93.13, for a total value of $1,862,600.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 stock was sold at an average price of $51.83, for a total value of $1,036,600.00.

Corcept Therapeutics Stock Up 0.3%

Corcept Therapeutics stock opened at $93.25 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $95.11. The company has a market cap of $10.01 billion, a P/E ratio of 266.44 and a beta of 0.47. The business has a 50-day simple moving average of $71.71 and a two-hundred day simple moving average of $52.50.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The business 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% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. Research analysts anticipate that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of CORT. Advisory Services Network LLC purchased a new position in shares of Corcept Therapeutics in the third quarter valued at about $25,000. Larson Financial Group LLC grew its position in shares of Corcept Therapeutics by 2,326.3% during the third quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 442 shares in the last quarter. Gould Capital LLC grew its position in shares of Corcept Therapeutics by 50.0% during the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 200 shares in the last quarter. Torren Management LLC bought a new stake in Corcept Therapeutics during the 4th quarter valued at approximately $25,000. Finally, CIBC Private Wealth Group LLC raised its stake in Corcept Therapeutics by 128.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 770 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 433 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CORT. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Piper Sandler upped their price objective on Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. HC Wainwright raised their target price on 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 Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target 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.