Corcept Therapeutics (NASDAQ:CORT) Insider Joseph Douglas Lyon Sells 810 Shares of Company Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Lyon sold 810 shares of Corcept Therapeutics stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $115.40, for a total value of $93,474.00. Following the completion of the transaction, the insider owned 5,683 shares of the company’s stock, valued at approximately $655,818.20. This represents a 12.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, October 2nd, Joseph Lyon sold 9,190 shares of Corcept Therapeutics stock. The shares were sold at an average price of $116.13, for a total value of $1,067,234.70.
• On Monday, September 14th, Joseph Lyon sold 10,000 shares of Corcept Therapeutics stock. The stock was 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 Trading Up 5.0%

NASDAQ:CORT traded up $5.80 during midday trading on Monday, hitting $122.03. 1,004,763 shares of the company traded hands, compared to its average volume of 1,733,962. The firm has a market capitalization of $13.19 billion, a P/E ratio of 290.55 and a beta of 0.40. The firm’s fifty day moving average is $113.94 and its 200-day moving average is $81.87. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $126.38.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on CORT shares. Zacks Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, September 28th. Truist Financial began coverage on shares of Corcept Therapeutics in a research note on Tuesday, August 18th. They issued a “buy” rating and a $164.00 price objective for the company. Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Corcept Therapeutics in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.17.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $1,080,964,000. Parallel Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 2.5% in the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock valued at $160,329,000 after purchasing an additional 96,763 shares during the period. Geode Capital Management LLC grew its stake in Corcept Therapeutics by 38.0% in the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock worth $92,892,000 after purchasing an additional 734,646 shares in the last quarter. First Trust Advisors LP grew its stake in Corcept Therapeutics by 213.5% in the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after purchasing an additional 1,480,059 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Corcept Therapeutics by 4.0% during the 4th quarter. TD Asset Management Inc now owns 994,844 shares of the biotechnology company’s stock worth $34,621,000 after purchasing an additional 38,708 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Company Profile

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.