Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 20,000 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $72.42, for a total transaction of $1,448,400.00. Following the sale, the insider now directly owns 5,487 shares in the company, valued at approximately $397,368.54. The trade was a 78.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, May 16th, William Guyer sold 32,262 shares of Corcept Therapeutics stock. The shares were sold at an average price of $74.17, for a total transaction of $2,392,872.54.
• On Tuesday, May 6th, William Guyer sold 7,060 shares of Corcept Therapeutics stock. The shares were sold at an average price of $74.31, for a total transaction of $524,628.60.

Corcept Therapeutics Stock Down 1.6%

Shares of Corcept Therapeutics stock traded down $1.12 during trading hours on Friday, reaching $70.06. 1,008,383 shares of the company were exchanged, compared to its average volume of 1,140,717. Corcept Therapeutics Incorporated has a 1 year low of $28.04 and a 1 year high of $117.33. The stock's fifty day moving average is $71.48 and its 200 day moving average is $64.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a market cap of $7.43 billion, a PE ratio of 55.60 and a beta of 0.19.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company's revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CORT shares. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research report on Tuesday, May 6th. Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler boosted their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. HC Wainwright cut their target price on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $138.25.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Modern Wealth Management LLC acquired a new position in shares of Corcept Therapeutics during the first quarter worth $330,000. Strs Ohio acquired a new position in shares of Corcept Therapeutics during the first quarter worth $1,531,000. Advisors Capital Management LLC acquired a new position in shares of Corcept Therapeutics during the first quarter worth $251,000. Iron Gate Global Advisors LLC acquired a new position in shares of Corcept Therapeutics during the first quarter worth $400,000. Finally, Acadian Asset Management LLC grew its stake in shares of Corcept Therapeutics by 45.4% during the first quarter. Acadian Asset Management LLC now owns 166,490 shares of the biotechnology company's stock worth $19,011,000 after purchasing an additional 52,000 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.