Corcept Therapeutics (NASDAQ:CORT) Insider Sells $1,067,234.70 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Lyon sold 9,190 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.13, for a total value of $1,067,234.70. Following the sale, the insider owned 5,683 shares of the company’s stock, valued at approximately $659,966.79. The trade was a 61.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Joseph Douglas Lyon also recently made the following trade(s):

• On Thursday, October 1st, Joseph Lyon sold 810 shares of Corcept Therapeutics stock. The stock was sold at an average price of $115.40, for a total value of $93,474.00.
• On Monday, September 14th, Joseph Lyon sold 10,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $113.49, for a total value of $1,134,900.00.
• On Monday, August 3rd, Joseph Lyon sold 1,540 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.16, for a total value of $175,806.40.

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $119.60 on Thursday. The stock has a market capitalization of $12.93 billion, a P/E ratio of 284.77 and a beta of 0.40. The business has a 50 day simple moving average of $114.98 and a 200 day simple moving average of $83.08. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.34. The firm had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company’s revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 earnings per share. Equities analysts expect that Corcept Therapeutics Incorporated will post 1.86 earnings per share for the current year.

Institutional Trading of Corcept Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised its holdings in Corcept Therapeutics by 25.4% during the second quarter. QRG Capital Management Inc. now owns 9,042 shares of the biotechnology company’s stock worth $786,000 after buying an additional 1,834 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Corcept Therapeutics by 1.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,617 shares of the biotechnology company’s stock valued at $923,000 after buying an additional 184 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Corcept Therapeutics during the second quarter valued at about $645,000. Tidal Investments LLC increased its position in shares of Corcept Therapeutics by 9.2% during the second quarter. Tidal Investments LLC now owns 24,218 shares of the biotechnology company’s stock worth $2,106,000 after acquiring an additional 2,039 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Corcept Therapeutics during the second quarter worth about $558,000. Institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Truist Financial began coverage on shares of Corcept Therapeutics in a research note on Tuesday, August 18th. They set a “buy” rating and a $164.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. Zacks Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, September 28th. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $138.17.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.