William Guyer Sells 4,379 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider William Guyer sold 4,379 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $73.48, for a total transaction of $321,768.92. Following the transaction, the insider owned 5,487 shares of the company's stock, valued at approximately $403,184.76. This represents a 44.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 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 shares were 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 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 stock was sold at an average price of $74.31, for a total transaction of $524,628.60.

Corcept Therapeutics Stock Down 1.1%

Shares of NASDAQ CORT traded down $0.77 during midday trading on Wednesday, reaching $68.31. 361,996 shares of the company were exchanged, compared to its average volume of 1,181,745. The stock's 50-day moving average price is $72.68 and its 200-day moving average price is $67.50. The stock has a market cap of $7.24 billion, a P/E ratio of 58.96 and a beta of 0.15. Corcept Therapeutics Incorporated has a one year low of $32.33 and a one year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. The firm had revenue of $157.21 million for the quarter, compared to analysts' expectations of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The company's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System grew its stake in shares of Corcept Therapeutics by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company's stock worth $3,237,000 after purchasing an additional 200 shares during the last quarter. JSF Financial LLC bought a new stake in shares of Corcept Therapeutics in the second quarter worth $1,056,000. QRG Capital Management Inc. grew its stake in shares of Corcept Therapeutics by 14.3% in the second quarter. QRG Capital Management Inc. now owns 110,752 shares of the biotechnology company's stock worth $8,129,000 after purchasing an additional 13,829 shares during the last quarter. Synergy Asset Management LLC grew its stake in shares of Corcept Therapeutics by 51.4% in the second quarter. Synergy Asset Management LLC now owns 258,494 shares of the biotechnology company's stock worth $18,973,000 after purchasing an additional 87,743 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in shares of Corcept Therapeutics in the second quarter worth $56,000. Institutional investors own 93.61% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.