Corcept Therapeutics (NASDAQ:CORT) Insider Sells $423,729.67 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORTGet Free Report) insider William Guyer sold 11,767 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $36.01, for a total value of $423,729.67. Following the completion of the transaction, the insider directly owned 2,231 shares of the company’s stock, valued at approximately $80,338.31. This trade represents a 84.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Wednesday, March 4th, William Guyer sold 8,233 shares of Corcept Therapeutics stock. The stock was sold at an average price of $35.99, for a total value of $296,305.67.
  • On Tuesday, February 3rd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $40.87, for a total value of $817,400.00.
  • On Tuesday, January 6th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $35.18, for a total value of $703,600.00.

Corcept Therapeutics Trading Up 0.6%

CORT stock opened at $33.82 on Wednesday. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 2.85. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 41.24 and a beta of 0.29. The business has a 50 day simple moving average of $37.34 and a two-hundred day simple moving average of $61.30.

Corcept Therapeutics (NASDAQ:CORTGet Free Report) last released its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. The company had revenue of $202.13 million for the quarter, compared to the consensus estimate of $254.94 million. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $99.00 to $100.00 and gave the company a “buy” rating in a report on Friday, January 23rd. UBS Group assumed coverage on Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 target price on the stock. Truist Financial set a $50.00 target price on Corcept Therapeutics in a research report on Wednesday, December 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 29th. Finally, Zacks Research cut Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Hold” and an average price target of $77.17.

Read Our Latest Stock Report on Corcept Therapeutics

Key Headlines Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its stake in shares of Corcept Therapeutics by 438.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 65,797 shares of the biotechnology company’s stock valued at $2,290,000 after buying an additional 53,574 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Corcept Therapeutics by 9.3% during the 4th quarter. Corient Private Wealth LLC now owns 7,035 shares of the biotechnology company’s stock worth $245,000 after acquiring an additional 600 shares during the last quarter. SHP Wealth Management bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $72,000. Caitong International Asset Management Co. Ltd purchased a new position in Corcept Therapeutics during the 4th quarter valued at $8,757,000. Finally, Virtu Financial LLC bought a new position in Corcept Therapeutics in the 4th quarter valued at $456,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

About Corcept Therapeutics

(Get Free Report)

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

Further Reading

Insider Buying and Selling by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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