Key Points
- William Guyer sold 20,000 shares of Corcept on Jan. 6 at an average price of $35.18 for $703,600, leaving him with 1,235 shares — a 94.18% reduction in his direct holding.
- The Jan. 6 sale is part of a recent pattern of large insider dispositions by Guyer, including sales on Dec. 2 (20,000 shares at $80.08), Nov. 25 (4,500 at $80.90) and Nov. 5 (20,000 at $75.36).
- Corcept shares are trading in the mid-$30s (opened $36.53) well below the 50/200‑day averages (~$73.6) and the analysts' average target of $80.83, with a consensus rating of "Hold" amid recent target cuts.
Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $35.18, for a total transaction of $703,600.00. Following the completion of the transaction, the insider directly owned 1,235 shares in the company, valued at $43,447.30. This represents a 94.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
William Guyer also recently made the following trade(s):
- On Tuesday, December 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $80.08, for a total transaction of $1,601,600.00.
- On Tuesday, November 25th, William Guyer sold 4,500 shares of Corcept Therapeutics stock. The stock was sold at an average price of $80.90, for a total transaction of $364,050.00.
- On Wednesday, November 5th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $75.36, for a total value of $1,507,200.00.
Corcept Therapeutics Price Performance
Shares of NASDAQ:CORT opened at $36.53 on Friday. The company has a market capitalization of $3.84 billion, a PE ratio of 41.51 and a beta of 0.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. The stock has a fifty day moving average of $73.57 and a 200-day moving average of $73.80. Corcept Therapeutics Incorporated has a one year low of $32.99 and a one year high of $117.33.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The company had revenue of $207.64 million for the quarter, compared to analyst estimates of $223.78 million. During the same period last year, the firm earned $0.41 earnings per share. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.
Institutional Investors Weigh In On Corcept Therapeutics
Large investors have recently made changes to their positions in the company. AQR Capital Management LLC raised its position in Corcept Therapeutics by 546.9% during the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company's stock valued at $125,264,000 after acquiring an additional 1,274,215 shares in the last quarter. Norges Bank bought a new stake in Corcept Therapeutics in the second quarter worth approximately $72,048,000. TD Asset Management Inc increased its stake in shares of Corcept Therapeutics by 16.6% during the 3rd quarter. TD Asset Management Inc now owns 956,136 shares of the biotechnology company's stock worth $79,464,000 after purchasing an additional 136,254 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Corcept Therapeutics by 223.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company's stock valued at $70,632,000 after purchasing an additional 587,053 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Corcept Therapeutics by 10.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 847,104 shares of the biotechnology company's stock valued at $70,403,000 after purchasing an additional 81,700 shares during the last quarter. Institutional investors own 93.61% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on CORT shares. HC Wainwright dropped their target price on shares of Corcept Therapeutics from $145.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, January 2nd. Canaccord Genuity Group lowered their price target on Corcept Therapeutics from $140.00 to $99.00 and set a "buy" rating on the stock in a report on Friday, January 2nd. Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, October 18th. Wolfe Research lowered Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $30.00 price objective for the company. in a research report on Wednesday, December 31st. Finally, Zacks Research raised Corcept Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $80.83.
View Our Latest Stock Report on CORT
Corcept Therapeutics Company Profile
(
Get Free Report)
Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.
The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.
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