Corcept Therapeutics (NASDAQ:CORT) Insider Sells 1,540 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 1,540 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $114.16, for a total value of $175,806.40. Following the completion of the sale, the insider directly owned 5,495 shares in the company, valued at approximately $627,309.20. This represents a 21.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, May 27th, Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00.

Corcept Therapeutics Trading Up 0.8%

Shares of NASDAQ CORT traded up $0.89 during midday trading on Wednesday, reaching $110.69. The company’s stock had a trading volume of 846,836 shares, compared to its average volume of 1,598,195. The stock has a 50 day simple moving average of $86.81 and a 200-day simple moving average of $57.96. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 263.55 and a beta of 0.45. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $122.21.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CORT. Handelsbanken Fonder AB increased its position in Corcept Therapeutics by 28.1% during the second quarter. Handelsbanken Fonder AB now owns 36,881 shares of the biotechnology company’s stock worth $3,207,000 after buying an additional 8,100 shares during the last quarter. Breakwater Capital Group bought a new stake in Corcept Therapeutics in the second quarter valued at approximately $246,000. Evanson Financial LLC acquired a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $1,085,000. GAMMA Investing LLC lifted its position in shares of Corcept Therapeutics by 54.0% in the second quarter. GAMMA Investing LLC now owns 4,640 shares of the biotechnology company’s stock valued at $403,000 after buying an additional 1,627 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Corcept Therapeutics by 56.8% in the first quarter. Pacer Advisors Inc. now owns 3,184 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 1,154 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CORT. UBS Group set a $135.00 price target on Corcept Therapeutics in a research report on Thursday, May 28th. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Monday, July 27th. HC Wainwright raised their target price on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Piper Sandler restated an “overweight” rating and set a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.17.

About Corcept Therapeutics

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.