William Guyer Sells 500 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider William Guyer sold 500 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $73.44, for a total value of $36,720.00. Following the transaction, the insider owned 5,487 shares in the company, valued at $402,965.28. The trade was a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 value of $321,768.92.
• On Tuesday, July 1st, William Guyer sold 100 shares of Corcept Therapeutics stock. The stock was 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 stock was 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.
• 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 value of $524,628.60.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT traded down $0.74 during midday trading on Monday, hitting $70.12. The company's stock had a trading volume of 628,963 shares, compared to its average volume of 1,184,765. The stock's 50 day simple moving average is $72.75 and its 200 day simple moving average is $67.35. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 60.45 and a beta of 0.15. Corcept Therapeutics Incorporated has a fifty-two week low of $32.33 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $157.21 million for the quarter, compared to the consensus estimate 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 for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings 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 purchasing an additional 2,086 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Corcept Therapeutics in the 1st quarter valued at about $331,000. JPMorgan Chase & Co. lifted its stake in shares of Corcept Therapeutics by 2.7% in the 4th 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 during the period. Robeco Institutional Asset Management B.V. acquired a new position in shares of Corcept Therapeutics in the first quarter valued at approximately $355,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Corcept Therapeutics during the 1st quarter worth $384,000. Institutional investors 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.

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