William Guyer Sells 3,700 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 3,700 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $113.12, for a total transaction of $418,544.00. Following the completion of the sale, the insider directly owned 3,985 shares of the company’s stock, valued at $450,783.20. The trade was a 48.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, July 7th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were 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 stock was sold at an average price of $70.60, for a total transaction of $1,412,000.00.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $110.77 on Friday. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 263.74 and a beta of 0.45. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $122.21. The stock has a 50-day simple moving average of $89.31 and a 200 day simple moving average of $59.37.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm had revenue of $256.15 million for the quarter, compared to analysts’ expectations of $221.15 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CORT shares. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. UBS Group set a $135.00 target price on shares of Corcept Therapeutics in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $119.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Corcept Therapeutics by 18.9% in the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock worth $1,757,000 after buying an additional 2,444 shares during the period. Amundi bought a new stake in Corcept Therapeutics in the first quarter valued at $450,000. NewEdge Advisors LLC acquired a new position in shares of Corcept Therapeutics during the first quarter valued at $518,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 273.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock valued at $106,000 after acquiring an additional 1,055 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Corcept Therapeutics by 795.3% during the second quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock worth $3,391,000 after acquiring an additional 41,040 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

About Corcept Therapeutics

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.