William Guyer Sells 20,000 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $89.94, for a total transaction of $1,798,800.00. Following the sale, the insider owned 5,287 shares of the company’s stock, valued at approximately $475,512.78. This represents a 79.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, September 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.49, for a total transaction of $1,409,800.00.
• On Friday, August 8th, William Guyer sold 35,007 shares of Corcept Therapeutics stock. The stock was sold at an average price of $71.77, for a total transaction of $2,512,452.39.
• On Tuesday, August 5th, William Guyer sold 14 shares of Corcept Therapeutics stock. The stock was sold at an average price of $71.77, for a total transaction of $1,004.78.
• On Friday, July 18th, William Guyer sold 500 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.44, for a total transaction of $36,720.00.
• On Thursday, July 17th, William Guyer sold 4,379 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.48, for a total transaction of $321,768.92.

Corcept Therapeutics Price Performance

Shares of CORT opened at $73.96 on Friday. Corcept Therapeutics Incorporated has a one year low of $42.01 and a one year high of $117.33. The company has a 50-day simple moving average of $75.57 and a two-hundred day simple moving average of $73.08. The firm has a market capitalization of $7.79 billion, a PE ratio of 65.45 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The business had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. During the same period last year, the business posted $0.32 earnings per share. Corcept Therapeutics’s quarterly revenue was up 18.7% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. Analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on CORT. Piper Sandler decreased their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, August 1st. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. HC Wainwright reaffirmed a “buy” rating and set a $145.00 target price on shares of Corcept Therapeutics in a research note on Friday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $135.25.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CORT. Golden State Wealth Management LLC bought a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $28,000. Huntington National Bank increased its position in shares of Corcept Therapeutics by 54.0% during the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 168 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 186 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $52,000. Finally, USA Financial Formulas bought a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $56,000. Institutional investors own 93.61% of the company’s stock.

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.