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 that occurred on Tuesday, June 2nd. The shares were sold at an average price of $70.60, for a total transaction of $1,412,000.00. Following the completion of the transaction, the insider directly owned 3,985 shares of the company’s stock, valued at approximately $281,341. The trade was a 83.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

Corcept Therapeutics Trading Up 3.1%

NASDAQ:CORT traded up $2.24 on Thursday, hitting $74.89. The company had a trading volume of 893,241 shares, compared to its average volume of 1,751,188. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 213.98 and a beta of 0.50. The firm has a 50 day moving average of $50.26 and a two-hundred day moving average of $52.01. Corcept Therapeutics Incorporated has a 52 week low of $28.66 and a 52 week high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The company had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. Corcept Therapeutics’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Corcept Therapeutics by 223.4% during the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after buying an additional 587,053 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Corcept Therapeutics by 111.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 507,967 shares of the biotechnology company’s stock worth $19,404,000 after buying an additional 268,155 shares during the period. First Trust Advisors LP increased its position in shares of Corcept Therapeutics by 34.1% during the third quarter. First Trust Advisors LP now owns 720,224 shares of the biotechnology company’s stock worth $59,858,000 after buying an additional 183,038 shares during the period. Public Sector Pension Investment Board increased its position in shares of Corcept Therapeutics by 13.7% during the third quarter. Public Sector Pension Investment Board now owns 365,838 shares of the biotechnology company’s stock worth $30,405,000 after buying an additional 44,070 shares during the period. Finally, Checkpoint Capital L.P. increased its position in shares of Corcept Therapeutics by 14.1% during the third quarter. Checkpoint Capital L.P. now owns 392,331 shares of the biotechnology company’s stock worth $32,607,000 after buying an additional 48,414 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CORT. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research report on Thursday, May 28th. HC Wainwright upped their price target on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics currently 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.