Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider William Guyer Sells 35,007 Shares

Key Points

• Insider William Guyer of Corcept Therapeutics sold 35,007 shares of company stock for around $2.5 million, significantly reducing his ownership by 86.45%.
• Corcept Therapeutics' stock recently traded up 2.3%, reaching $73.59, with a market capitalization of $7.75 billion and a PE ratio of 65.12.
• Analysts have mixed views on the stock, with price targets ranging from $121.00 to $145.00, while the consensus rating is a "Moderate Buy".

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider William Guyer sold 35,007 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $71.77, for a total value of $2,512,452.39. Following the transaction, the insider directly owned 5,487 shares of the company's stock, valued at $393,801.99. This represents a 86.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, August 5th, William Guyer sold 14 shares of Corcept Therapeutics stock. The stock was sold at an average price of $71.77, for a total value of $1,004.78.
• On Friday, July 18th, William Guyer sold 500 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.44, for a total value of $36,720.00.
• On Thursday, July 17th, William Guyer sold 4,379 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.48, for a total value of $321,768.92.
• On Tuesday, July 1st, William Guyer sold 100 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.50, for a total value of $7,350.00.
• On Tuesday, June 10th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $72.42, for a total value of $1,448,400.00.
• 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 value of $2,392,872.54.

Corcept Therapeutics Trading Down 0.3%

Shares of Corcept Therapeutics stock traded down $0.25 during trading on Friday, reaching $71.75. The stock had a trading volume of 692,631 shares, compared to its average volume of 861,727. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 63.50 and a beta of 0.20. The stock has a fifty day moving average price of $71.22 and a two-hundred day moving average price of $69.33. Corcept Therapeutics Incorporated has a 52 week low of $33.34 and a 52 week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. The firm had revenue of $194.43 million during the quarter, compared to analysts' expectations of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%. The business's quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CORT. HC Wainwright lowered their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a report on Tuesday, May 6th. Canaccord Genuity Group cut their price target on Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Piper Sandler cut their price target on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $134.50.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in Corcept Therapeutics by 269.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company's stock valued at $144,000 after acquiring an additional 2,086 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Corcept Therapeutics by 24.5% during the 1st quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company's stock worth $10,670,000 after purchasing an additional 18,389 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in Corcept Therapeutics during the first quarter worth about $331,000. JPMorgan Chase & Co. increased its position in Corcept Therapeutics by 2.7% during the fourth quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company's stock worth $13,096,000 after buying an additional 6,832 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Corcept Therapeutics during the first quarter worth approximately $355,000. 93.61% of the stock is owned by institutional investors.

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.