Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $353,000.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at $213,176.70. 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 Thursday, August 1st, William Guyer sold 10,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00.

Corcept Therapeutics Stock Down 1.5 %

Shares of Corcept Therapeutics stock traded down $0.52 during trading hours on Thursday, reaching $34.10. 416,875 shares of the company’s stock were exchanged, compared to its average volume of 1,229,019. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $39.75. The company has a market capitalization of $3.55 billion, a P/E ratio of 32.17 and a beta of 0.44. The business has a fifty day moving average of $33.85 and a two-hundred day moving average of $28.86.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The business had revenue of $163.80 million during the quarter, compared to analyst estimates of $155.14 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 1.1 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CORT shares. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. HC Wainwright boosted their price target on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Truist Financial reissued a “buy” rating and issued a $65.00 price target on shares of Corcept Therapeutics in a report on Monday, June 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics has a consensus rating of “Buy” and a consensus price target of $46.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Norden Group LLC acquired a new position in Corcept Therapeutics in the first quarter valued at about $50,081,000. Norges Bank acquired a new position in Corcept Therapeutics in the fourth quarter valued at about $24,603,000. Jacobs Levy Equity Management Inc. purchased a new stake in Corcept Therapeutics during the first quarter worth about $18,426,000. Jupiter Asset Management Ltd. increased its stake in Corcept Therapeutics by 1,149.0% during the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock worth $18,753,000 after purchasing an additional 684,863 shares during the period. Finally, Clearbridge Investments LLC purchased a new stake in Corcept Therapeutics during the first quarter worth about $14,670,000. Institutional investors and hedge funds 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.