Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 6,606 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 6,606 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $48.97, for a total transaction of $323,495.82. Following the completion of the sale, the insider now owns 5,796 shares of the company’s stock, valued at approximately $283,830.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, November 4th, William Guyer sold 3,394 shares of Corcept Therapeutics stock. The stock was sold at an average price of $48.97, for a total value of $166,204.18.
• On Tuesday, September 3rd, William Guyer sold 10,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $35.30, for a total value of $353,000.00.

Corcept Therapeutics Stock Up 4.2 %

CORT traded up $2.08 on Tuesday, hitting $52.14. 1,233,280 shares of the company were exchanged, compared to its average volume of 1,191,046. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 39.98 and a beta of 0.45. The firm has a 50-day moving average price of $42.70 and a two-hundred day moving average price of $34.92. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $52.35.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, Truist Financial lifted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corcept Therapeutics has a consensus rating of “Buy” and a consensus price target of $65.25.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors have recently modified their holdings of CORT. Victory Capital Management Inc. raised its stake in Corcept Therapeutics by 49.2% in the third quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after buying an additional 13,787 shares in the last quarter. Versor Investments LP acquired a new position in Corcept Therapeutics in the third quarter valued at approximately $1,148,000. Lisanti Capital Growth LLC increased its stake in Corcept Therapeutics by 79.6% in the third quarter. Lisanti Capital Growth LLC now owns 113,155 shares of the biotechnology company’s stock valued at $5,237,000 after purchasing an additional 50,160 shares during the last quarter. Meritage Portfolio Management raised its holdings in Corcept Therapeutics by 10.0% during the third quarter. Meritage Portfolio Management now owns 27,028 shares of the biotechnology company’s stock worth $1,251,000 after purchasing an additional 2,459 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in Corcept Therapeutics by 2.0% during the third quarter. Assetmark Inc. now owns 63,311 shares of the biotechnology company’s stock worth $2,930,000 after purchasing an additional 1,235 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other 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.