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 company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $71.77, for a total transaction of $2,512,452.39. Following the sale, the insider owned 5,487 shares of the company's stock, valued at $393,801.99. This represents a 86.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $71.77, for a total transaction of $1,004.78.
• On Friday, July 18th, William Guyer sold 500 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.44, for a total transaction of $36,720.00.
• On Thursday, July 17th, William Guyer sold 4,379 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.48, for a total transaction 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 transaction of $7,350.00.
• On Tuesday, June 10th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $72.42, for a total transaction of $1,448,400.00.
• On Friday, May 16th, William Guyer sold 32,262 shares of Corcept Therapeutics stock. The stock was sold at an average price of $74.17, for a total transaction of $2,392,872.54.

Corcept Therapeutics Trading Up 2.3%

Corcept Therapeutics stock traded up $1.62 during midday trading on Tuesday, hitting $73.59. The stock had a trading volume of 514,617 shares, compared to its average volume of 906,167. The firm's fifty day moving average is $71.06 and its two-hundred day moving average is $69.09. The company has a market capitalization of $7.75 billion, a PE ratio of 65.12 and a beta of 0.20. 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 released its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. The company had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The firm'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 EPS. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in shares of Corcept Therapeutics by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company's stock valued at $13,096,000 after purchasing an additional 6,832 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Corcept Therapeutics by 104.5% in the fourth quarter. Wells Fargo & Company MN now owns 90,137 shares of the biotechnology company's stock valued at $4,542,000 after acquiring an additional 46,067 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Corcept Therapeutics by 107.1% in the fourth quarter. Federated Hermes Inc. now owns 13,870 shares of the biotechnology company's stock valued at $699,000 after acquiring an additional 7,172 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Corcept Therapeutics by 8.9% in the fourth quarter. Bank of Montreal Can now owns 13,678 shares of the biotechnology company's stock valued at $689,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in Corcept Therapeutics by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company's stock worth $426,000 after purchasing an additional 268 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

About Corcept Therapeutics

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.

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