William Guyer, the Chief Development Officer of CORCEPT THERAPEUTICS INC (NASDAQ:CORT), recently executed a significant transaction involving the company's equity. On July 7, 2026, Guyer sold 20,000 shares of CORCEPT common stock, realizing approximately $1.86 million in proceeds. The shares were sold at prices ranging between $93.1059 and $93.5383 per share. This sale was conducted under the framework of a pre-arranged 10b5-1 trading plan, which Guyer established on November 27, 2024.
The timing of this transaction is notable given the current trading performance of CORT. The stock is currently trading near its 52-week high of $94.77. Over the past six months, CORT shares have delivered a substantial 154% return. Despite this strong performance, analysis from InvestingPro suggests that the stock may be overvalued relative to its Fair Value, as indicated by a P/E ratio of 231.
Before executing the sale, Guyer acquired 20,000 shares of common stock through the exercise of stock options. These shares were purchased at an exercise price of $21.65 per share, representing a total value of $433,000. The stock options are fully exercisable and are scheduled to expire on September 1, 2031.
Following the sale, Guyer's direct holdings in CORCEPT THERAPEUTICS INC common stock stand at 3,985 shares. This total includes 224 shares, 498 shares, and 877 shares underlying unvested restricted stock awards granted on December 1, 2025, March 2, 2026, and June 2, 2026, respectively. These restricted stock awards are set to vest on the one-year anniversary of their grant dates, contingent on the satisfaction of certain requirements. Additionally, Guyer maintains ownership of 130,000 derivative shares in the form of stock options.
In other recent developments, Corcept Therapeutics has resubmitted its New Drug Application for relacorilant to the U.S. Food and Drug Administration. The application is for the treatment of Cushing’s syndrome and includes additional analyses as requested by the FDA. The company anticipates a six-month review period for this resubmission.
Furthermore, Corcept presented promising overall survival data from its Phase 3 ROSELLA trial at the American Society of Clinical Oncology Annual Meeting. The trial results indicated a 35% reduction in the risk of death for patients treated with the combination of Lifyorli and nab-paclitaxel compared to nab-paclitaxel alone.
H.C. Wainwright has reiterated its Buy rating for Corcept, maintaining a price target of $95 following the presentation of this data. The firm also raised its price target to $75 from $65 after Corcept reported first-quarter 2026 revenues of approximately $165 million. This revenue figure fell short of the consensus estimate of $186 million.