Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $1,507,200.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $75.36, for a total transaction of $1,507,200.00. Following the sale, the insider owned 5,287 shares of the company’s stock, valued at approximately $398,428.32. This represents a 79.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, October 7th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $89.94, for a total transaction of $1,798,800.00.
• On Tuesday, September 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.49, for a total transaction of $1,409,800.00.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $73.72 on Monday. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 65.24 and a beta of 0.43. Corcept Therapeutics Incorporated has a fifty-two week low of $49.00 and a fifty-two week high of $117.33. The firm has a 50-day simple moving average of $76.82 and a 200-day simple moving average of $73.56.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The company had revenue of $207.64 million for the quarter, compared to analyst estimates of $223.78 million. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds have recently bought and sold shares of the company. Concurrent Investment Advisors LLC purchased a new stake in Corcept Therapeutics during the first quarter worth $682,000. Envestnet Asset Management Inc. raised its stake in shares of Corcept Therapeutics by 9.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 31,770 shares of the biotechnology company’s stock worth $3,629,000 after buying an additional 2,613 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Corcept Therapeutics by 1.1% in the 1st quarter. Cerity Partners LLC now owns 614,794 shares of the biotechnology company’s stock worth $70,222,000 after buying an additional 6,848 shares in the last quarter. Sage Rhino Capital LLC acquired a new stake in Corcept Therapeutics in the 1st quarter valued at about $366,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Corcept Therapeutics in the 1st quarter valued at about $4,320,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CORT has been the topic of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Piper Sandler dropped their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Zacks Research cut shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $145.00 target price on shares of Corcept Therapeutics in a research report on Monday, October 20th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

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.