Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $323,495.82 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 6,606 shares of Corcept Therapeutics stock in a transaction that occurred 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 completion of the sale, the insider now owns 5,796 shares of the company’s stock, valued at approximately $283,830.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

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

Corcept Therapeutics Trading Up 0.1 %

Shares of NASDAQ CORT opened at $54.30 on Friday. The firm has a 50 day moving average price of $43.83 and a two-hundred day moving average price of $35.39. The stock has a market cap of $5.69 billion, a P/E ratio of 43.10 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $55.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.25 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on CORT shares. Truist Financial boosted their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler lifted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Finally, Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics has an average rating of “Buy” and an average price target of $65.25.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in Corcept Therapeutics during the 1st quarter worth about $18,426,000. Jupiter Asset Management Ltd. boosted its position in shares of Corcept Therapeutics by 1,149.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after purchasing an additional 684,863 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Corcept Therapeutics during the first quarter worth approximately $14,670,000. M&G PLC bought a new stake in Corcept Therapeutics in the third quarter worth approximately $11,173,000. Finally, Janus Henderson Group PLC increased its holdings in Corcept Therapeutics by 482.6% in the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock worth $6,677,000 after purchasing an additional 219,551 shares in the last quarter. 93.61% of the stock is currently 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.