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 the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $48.97, for a total value of $323,495.82. Following the sale, the insider now directly owns 5,796 shares in the company, valued at $283,830.12. This trade represents a 0.00 % decrease in their position. The sale 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 transaction 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 Trading Up 4.2 %

CORT stock traded up $2.08 during midday trading on Tuesday, reaching $52.14. The company’s stock had a trading volume of 1,233,280 shares, compared to its average volume of 1,191,046. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 39.98 and a beta of 0.45. 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 Incorporated has a 1 year low of $20.84 and a 1 year high of $52.35. The stock has a fifty day simple moving average of $42.70 and a two-hundred day simple moving average of $34.92.

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

Institutional Trading of Corcept Therapeutics

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics during the third quarter valued at $25,000. Park Place Capital Corp purchased a new stake in shares of Corcept Therapeutics during the second quarter worth about $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics in the 2nd quarter worth about $35,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Corcept Therapeutics in the third quarter valued at approximately $36,000. Finally, Blue Trust Inc. increased its position in shares of Corcept Therapeutics by 125.4% during the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,962 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CORT has been the topic of several analyst reports. Piper Sandler lifted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Truist Financial increased their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corcept Therapeutics presently 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.