William Guyer Sells 16,300 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 16,300 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $113.43, for a total value of $1,848,909.00. Following the completion of the sale, the insider owned 3,985 shares of the company’s stock, valued at approximately $452,018.55. This represents a 80.35% decrease in their ownership of the stock. The sale 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, August 4th, William Guyer sold 3,700 shares of Corcept Therapeutics stock. The shares were sold at an average price of $113.12, for a total value of $418,544.00.
• On Tuesday, July 7th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $93.13, for a total value of $1,862,600.00.
• On Tuesday, June 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.60, for a total value of $1,412,000.00.

Corcept Therapeutics Stock Down 1.5%

NASDAQ CORT opened at $110.51 on Friday. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $122.21. The business has a 50 day moving average price of $92.50 and a two-hundred day moving average price of $61.60. The stock has a market cap of $11.95 billion, a PE ratio of 263.13 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. The business had revenue of $256.15 million for the quarter, compared to analysts’ expectations of $221.15 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 earnings per share. Sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CORT. Advisory Services Network LLC bought a new position in shares of Corcept Therapeutics in the 3rd quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Corcept Therapeutics during the second quarter worth about $27,000. Larson Financial Group LLC raised its position in shares of Corcept Therapeutics by 2,326.3% during the 3rd quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 442 shares during the period. Gould Capital LLC lifted its stake in Corcept Therapeutics by 50.0% in the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 200 shares during the last quarter. Finally, Torren Management LLC bought a new position in Corcept Therapeutics in the 4th quarter worth about $25,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CORT. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research report on Monday, July 27th. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.17.

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.