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

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the firm’s stock in a transaction dated 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 directly owned 3,985 shares in the company, valued at $281,341. The trade was a 83.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 Price Performance

NASDAQ CORT opened at $72.62 on Friday. The stock has a market capitalization of $7.80 billion, a PE ratio of 207.49 and a beta of 0.50. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $91.00. The business’s 50-day moving average is $51.73 and its 200 day moving average is $52.15.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (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 firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. As a group, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

CORT has been the subject of several research analyst reports. Piper Sandler raised their price objective on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a report on Thursday, May 28th. HC Wainwright raised their price objective on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.83.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Corcept Therapeutics by 223.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after purchasing an additional 587,053 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Corcept Therapeutics by 111.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 507,967 shares of the biotechnology company’s stock valued at $19,404,000 after acquiring an additional 268,155 shares during the period. First Trust Advisors LP grew its position in shares of Corcept Therapeutics by 34.1% during the 3rd quarter. First Trust Advisors LP now owns 720,224 shares of the biotechnology company’s stock valued at $59,858,000 after acquiring an additional 183,038 shares during the period. Public Sector Pension Investment Board grew its position in shares of Corcept Therapeutics by 13.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 365,838 shares of the biotechnology company’s stock valued at $30,405,000 after acquiring an additional 44,070 shares during the period. Finally, Checkpoint Capital L.P. boosted its holdings in Corcept Therapeutics by 14.1% in the 3rd quarter. Checkpoint Capital L.P. now owns 392,331 shares of the biotechnology company’s stock worth $32,607,000 after buying an additional 48,414 shares during the period. Institutional investors own 93.61% of the company’s stock.

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.