Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider William Guyer Sells 10,000 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now directly owns 6,039 shares in the company, valued at $213,176.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, August 1st, William Guyer sold 10,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $38.67, for a total transaction of $386,700.00.

Corcept Therapeutics Stock Down 1.5 %

Shares of NASDAQ CORT opened at $34.10 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of 32.17 and a beta of 0.44. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $39.75. The business has a 50-day moving average price of $33.85 and a 200 day moving average price of $28.86.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s revenue was up 39.1% compared to the same quarter last year. Sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CORT. Park Place Capital Corp purchased a new position in shares of Corcept Therapeutics during the second quarter worth about $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $35,000. Gladius Capital Management LP purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at approximately $36,000. GAMMA Investing LLC increased its holdings in shares of Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 579 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in shares of Corcept Therapeutics by 318.7% during the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,348 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CORT shares. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. Piper Sandler upped their target price on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Finally, HC Wainwright raised their price target on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $46.50.

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.