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

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. The sale was disclosed in a document filed with the SEC, which is available 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 Trading Up 0.8 %

NASDAQ:CORT opened at $34.38 on Friday. The stock has a 50 day simple moving average of $33.88 and a 200 day simple moving average of $28.99. The stock has a market cap of $3.58 billion, a P/E ratio of 32.43 and a beta of 0.44. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $39.75.

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, topping the consensus estimate of $0.23 by $0.09. The firm had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.1 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of CORT. Norden Group LLC bought a new position in shares of Corcept Therapeutics during the first quarter worth approximately $50,081,000. Norges Bank bought a new position in Corcept Therapeutics during the 4th quarter worth $24,603,000. Jacobs Levy Equity Management Inc. acquired a new position in Corcept Therapeutics in the 1st quarter valued at $18,426,000. Jupiter Asset Management Ltd. raised its holdings in Corcept Therapeutics by 1,149.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after acquiring an additional 684,863 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at $14,670,000. Institutional investors own 93.61% of the company’s stock.

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.