Corcept Therapeutics (NASDAQ:CORT) Insider Sells $1,862,600.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $93.13, for a total transaction of $1,862,600.00. Following the sale, the insider directly owned 3,985 shares of the company’s stock, valued at approximately $371,123.05. The trade was a 83.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $1,412,000.00.
• 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.

Corcept Therapeutics Stock Down 1.2%

CORT stock traded down $1.10 during mid-day trading on Wednesday, reaching $92.94. 1,037,028 shares of the company traded hands, compared to its average volume of 942,981. The firm’s 50 day moving average price is $70.78 and its 200 day moving average price is $52.44. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 265.55 and a beta of 0.47. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $94.77.

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). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The company had revenue of $164.90 million during the quarter, compared to analysts’ expectations of $185.83 million. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CORT. HC Wainwright raised their price objective on Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Piper Sandler upped their target price on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock 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 report on Monday, May 4th. Finally, Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CORT. Torren Management LLC bought a new position in Corcept Therapeutics in the 4th quarter valued at $25,000. Advisory Services Network LLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter worth $25,000. Atlas Capital Advisors Inc. bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth $31,000. State of Wyoming boosted its holdings in shares of 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 during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Corcept Therapeutics by 113.7% in the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after buying an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.