Joseph Douglas Lyon Sells 1,411 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 1,411 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the transaction, the insider now owns 8,494 shares in the company, valued at approximately $481,779.68. This trade represents a 14.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Corcept Therapeutics Stock Up 0.0 %

Shares of Corcept Therapeutics stock opened at $58.60 on Friday. The company has a fifty day moving average price of $49.52 and a 200 day moving average price of $38.66. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $61.66. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 46.51 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Corcept Therapeutics’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Corcept Therapeutics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after buying an additional 28,250 shares in the last quarter. State Street Corp increased its position in shares of Corcept Therapeutics by 0.6% during the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after acquiring an additional 19,893 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Corcept Therapeutics by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock valued at $86,952,000 after purchasing an additional 108,658 shares during the last quarter. Geode Capital Management LLC grew its stake in Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after purchasing an additional 99,470 shares in the last quarter. Finally, FMR LLC increased its holdings in Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after purchasing an additional 269,074 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CORT shares. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday. Truist Financial raised their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Piper Sandler upped their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $65.25.

Corcept Therapeutics Company Profile

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.