Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 3,394 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 3,394 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the transaction, the insider now owns 5,796 shares of the company’s stock, valued at $283,830.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, November 1st, William Guyer sold 6,606 shares of Corcept Therapeutics stock. The shares were sold at an average price of $48.97, for a total value of $323,495.82.
• 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 transaction of $353,000.00.

Corcept Therapeutics Stock Up 0.1 %

Shares of Corcept Therapeutics stock opened at $54.30 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $55.24. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 43.10 and a beta of 0.45. 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 fifty day moving average price of $43.83 and a 200 day moving average price of $35.39.

Corcept Therapeutics (NASDAQ:CORT) last posted its 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 business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.25 earnings per share for the current fiscal year.

Institutional Trading of Corcept Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics during the 3rd quarter valued at $25,000. Park Place Capital Corp acquired a new stake in shares of Corcept Therapeutics during the second quarter valued at about $32,000. Atwood & Palmer Inc. purchased a new stake in shares of Corcept Therapeutics during the second quarter worth about $35,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Corcept Therapeutics in the third quarter worth about $36,000. Finally, Blue Trust Inc. boosted its holdings in Corcept Therapeutics by 125.4% in the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,962 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Piper Sandler upped their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $65.25.

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.