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

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $70.60, for a total value of $1,412,000.00. Following the completion of the sale, the insider owned 3,985 shares of the company’s stock, valued at approximately $281,341. This trade represents a 83.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

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

Corcept Therapeutics Stock Up 3.1%

Shares of NASDAQ CORT opened at $74.89 on Friday. The business’s 50 day moving average is $51.08 and its two-hundred day moving average is $52.00. The company has a market cap of $8.04 billion, a P/E ratio of 213.98 and a beta of 0.50. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results 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 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%.The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on CORT. UBS Group set a $135.00 price target on Corcept Therapeutics in a research report on Thursday, May 28th. Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. HC Wainwright lifted their price target on Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.83.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of Corcept Therapeutics during the third quarter valued at approximately $25,000. Clearstead Advisors LLC increased its position in shares of Corcept Therapeutics by 163.6% during the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 193 shares during the period. Hantz Financial Services Inc. increased its position in shares of Corcept Therapeutics by 598.5% during the third quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. Larson Financial Group LLC increased 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 valued at $38,000 after purchasing an additional 442 shares during the period. Finally, Gould Capital LLC increased 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 valued at $50,000 after purchasing an additional 200 shares during the period. 93.61% of the stock is currently owned by institutional investors.

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.