Corcept Therapeutics (NASDAQ:CORT) Insider William Guyer Sells 11,767 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 11,767 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $36.01, for a total transaction of $423,729.67. Following the completion of the transaction, the insider owned 2,231 shares in the company, valued at approximately $80,338.31. The trade was a 84.06% 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 Wednesday, March 4th, William Guyer sold 8,233 shares of Corcept Therapeutics stock. The stock was sold at an average price of $35.99, for a total transaction of $296,305.67.
• On Tuesday, February 3rd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $40.87, for a total transaction of $817,400.00.
• On Tuesday, January 6th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $35.18, for a total value of $703,600.00.

Corcept Therapeutics Stock Up 19.7%

NASDAQ CORT opened at $40.47 on Thursday. The company’s 50 day simple moving average is $37.41 and its 200 day simple moving average is $61.15. The company has a market capitalization of $4.30 billion, a P/E ratio of 49.35 and a beta of 0.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 2.85. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a return on equity of 15.19% and a net margin of 12.96%.The firm had revenue of $202.13 million during the quarter, compared to analysts’ expectations of $254.94 million. During the same period last year, the business earned $0.26 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

CORT has been the topic of a number of recent analyst reports. Zacks Research downgraded Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. UBS Group assumed coverage on shares of Corcept Therapeutics in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 target price for the company. HC Wainwright lowered their price target on shares of Corcept Therapeutics from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 29th. Finally, Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $99.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.00.

Key Corcept Therapeutics News

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: FDA approval of Lifyorli (relacorilant) plus nab?paclitaxel for platinum?resistant ovarian cancer — key commercial catalyst and the immediate driver of the rally; approval was completed ahead of schedule and trial data showed a survival benefit. FDA Approves Corcept’s Lifyorli (BusinessWire)
• Positive Sentiment: Coverage/analyst support: H.C. Wainwright reiterated a Buy and published a $60 price target (lowered from $67) while calling the early approval and long?term sales outlook supportive — helps justify upside expectations despite the lower PT. Corcept Wins FDA Approval (TipRanks)
• Positive Sentiment: Insider/director buying noted in mid?March (100,000 shares) has been cited by market commentary as a confidence signal and likely amplified bullish positioning ahead of the approval. Insider Buy & Catalyst Analysis (QuiverQuant)
• Neutral Sentiment: Trading was temporarily halted earlier today for a LULD pause as the stock moved sharply — a market?structure response to volatility, not company news. (Trading halt reported in market feeds.)
• Neutral Sentiment: Some outlets reported very large intraday moves (30–48%+ intraday prints) as traders re?priced the stock on the approval; expect continued volatility and large volume in the near term. Market Reaction Coverage (Reuters)
• Negative Sentiment: Multiple law firms have filed/alerted investors about securities?class?action suits alleging prior disclosures and regulatory/patent issues — these lawsuits and related allegations (including references to an FDA rejection and court patent loss in filings) represent material legal and financial risk that could pressure the stock. Hagens Berman Securities Class Action Alert (GlobeNewswire)
• Negative Sentiment: Recent insider selling: a disclosed sale by William Guyer on March 20 reduces insider ownership and may be viewed unfavorably by some investors (though offset by the director buy referenced above). Insider Sale SEC Filing

Hedge Funds Weigh In On Corcept Therapeutics

Several large investors have recently bought and sold shares of the business. Torren Management LLC bought a new position in Corcept Therapeutics in the fourth quarter valued at approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. Clearstead Advisors LLC grew its stake in shares of Corcept Therapeutics by 163.6% in the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 193 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at $31,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Corcept Therapeutics by 113.7% during the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 524 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.