Joseph Douglas Lyon Sells 3,877 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Douglas Lyon sold 3,877 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $73.48, for a total transaction of $284,881.96. Following the sale, the insider owned 10,066 shares of the company's stock, valued at $739,649.68. The trade was a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, July 18th, Joseph Douglas Lyon sold 200 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.40, for a total transaction of $14,680.00.
• On Tuesday, July 1st, Joseph Douglas Lyon sold 100 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.50, for a total transaction of $7,350.00.
• On Monday, June 2nd, Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $78.04, for a total transaction of $390,200.00.

Corcept Therapeutics Stock Performance

NASDAQ CORT traded down $0.80 on Thursday, reaching $67.59. The company had a trading volume of 649,187 shares, compared to its average volume of 1,424,979. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 58.27 and a beta of 0.15. Corcept Therapeutics Incorporated has a 1-year low of $32.33 and a 1-year high of $117.33. The company's fifty day moving average is $72.52 and its 200-day moving average is $67.61.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The firm had revenue of $157.21 million for the quarter, compared to analysts' expectations of $177.93 million. During the same period in the previous year, the firm posted $0.25 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CORT. HC Wainwright decreased their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $138.25.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System raised its holdings in shares of Corcept Therapeutics by 18.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 32,305 shares of the biotechnology company's stock valued at $2,371,000 after purchasing an additional 5,091 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Corcept Therapeutics by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company's stock valued at $3,237,000 after purchasing an additional 200 shares during the period. JSF Financial LLC bought a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at about $1,056,000. QRG Capital Management Inc. raised its holdings in shares of Corcept Therapeutics by 14.3% in the 2nd quarter. QRG Capital Management Inc. now owns 110,752 shares of the biotechnology company's stock valued at $8,129,000 after purchasing an additional 13,829 shares during the period. Finally, Synergy Asset Management LLC raised its holdings in shares of Corcept Therapeutics by 51.4% in the 2nd quarter. Synergy Asset Management LLC now owns 258,494 shares of the biotechnology company's stock valued at $18,973,000 after purchasing an additional 87,743 shares during the period. 93.61% of the stock is owned by institutional investors.

About Corcept Therapeutics

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.