William Guyer Sells 6,606 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 6,606 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $48.97, for a total transaction of $323,495.82. Following the transaction, the insider now owns 5,796 shares in the company, valued at approximately $283,830.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $54.23 on Thursday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $54.88. The company has a fifty day simple moving average of $43.45 and a 200 day simple moving average of $35.26. 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 $5.68 billion, a P/E ratio of 43.04 and a beta of 0.45.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on CORT. Truist Financial increased their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $65.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of Corcept Therapeutics by 199.0% in the first quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock worth $5,330,000 after acquiring an additional 140,815 shares during the last quarter. Oak Ridge Investments LLC acquired a new position in shares of Corcept Therapeutics during the second quarter valued at about $984,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Corcept Therapeutics by 190.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock valued at $1,684,000 after buying an additional 43,809 shares during the period. US Bancorp DE grew its position in Corcept Therapeutics by 6,252.3% during the first quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock worth $637,000 after buying an additional 24,884 shares in the last quarter. Finally, Milestone Asset Management LLC increased its stake in Corcept Therapeutics by 47.4% during the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock valued at $1,676,000 after acquiring an additional 16,593 shares during the period. 93.61% of the stock is owned by institutional investors.

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.