Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider William Guyer sold 20,000 shares of the business's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $93.13, for a total value of $1,862,600.00. Following the completion of the transaction, the insider directly owned 3,985 shares of the company's stock, valued at approximately $371,123.05. This trade represents a 83.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
William Guyer also recently made the following trade(s):
- On Tuesday, June 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.60, for a total value of $1,412,000.00.
- On Tuesday, May 5th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $51.83, for a total value of $1,036,600.00.
Corcept Therapeutics Trading Down 1.2%
Shares of CORT stock opened at $92.94 on Thursday. The stock has a 50 day moving average of $70.78 and a 200 day moving average of $52.44. The stock has a market cap of $9.98 billion, a P/E ratio of 265.55 and a beta of 0.47. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $94.77.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.19). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The company had revenue of $164.90 million during the quarter, compared to analyst estimates of $185.83 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The company's revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
CORT has been the topic of a number of recent analyst reports. Zacks Research raised shares of Corcept Therapeutics from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, May 28th. HC Wainwright upped their price objective on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. Finally, UBS Group set a $135.00 target price on shares of Corcept Therapeutics in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.83.
Read Our Latest Report on CORT
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in CORT. JPMorgan Chase & Co. increased its holdings in Corcept Therapeutics by 223.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company's stock worth $70,632,000 after acquiring an additional 587,053 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Corcept Therapeutics by 111.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 507,967 shares of the biotechnology company's stock valued at $19,404,000 after purchasing an additional 268,155 shares in the last quarter. First Trust Advisors LP lifted its holdings in Corcept Therapeutics by 34.1% during the third quarter. First Trust Advisors LP now owns 720,224 shares of the biotechnology company's stock valued at $59,858,000 after purchasing an additional 183,038 shares in the last quarter. Checkpoint Capital L.P. grew its position in shares of Corcept Therapeutics by 14.1% in the third quarter. Checkpoint Capital L.P. now owns 392,331 shares of the biotechnology company's stock valued at $32,607,000 after purchasing an additional 48,414 shares during the period. Finally, Avidity Partners Management LP acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $766,000. 93.61% of the stock is owned by institutional investors and hedge funds.
About Corcept Therapeutics
(
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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