Corcept Therapeutics (NASDAQ:CORT) Insider Sells $1,848,909.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 16,300 shares of the company’s stock in a transaction that occurred 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 transaction, 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 position. The sale 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, 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 transaction of $418,544.00.
• 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 shares were sold at an average price of $70.60, for a total transaction of $1,412,000.00.

Corcept Therapeutics Trading Up 3.6%

Shares of NASDAQ CORT opened at $114.47 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $122.21. The firm has a market capitalization of $12.37 billion, a PE ratio of 272.55 and a beta of 0.45. The firm has a fifty day simple moving average of $93.34 and a two-hundred day simple moving average of $61.97.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.02 by $0.34. The firm had revenue of $256.15 million during 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 company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the company posted $0.29 EPS. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on CORT shares. Weiss Ratings restated a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Canaccord Genuity Group raised their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.17.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CORT. BlackRock Inc. bought a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $1,080,964,000. Parallel Advisors LLC grew its stake in shares of Corcept Therapeutics by 2.5% in the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after buying an additional 96,763 shares during the last quarter. State Street Corp grew its stake in shares of Corcept Therapeutics by 0.5% in the 4th quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock worth $103,915,000 after buying an additional 15,656 shares during the last quarter. Geode Capital Management LLC increased its position in Corcept Therapeutics by 38.0% during the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after buying an additional 734,646 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Corcept Therapeutics by 213.5% during the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after buying an additional 1,480,059 shares in 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.