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Joseph Douglas Lyon Sells 5,823 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics logo with Medical background

Key Points

  • Joseph Douglas Lyon, an insider at Corcept Therapeutics, sold 5,823 shares of stock worth $393,110.73 on August 1, representing a 36.65% decrease in his ownership.
  • The stock closed down 1.8% to $70.45, with a 1-year range of $33.34 to $117.33 and a market capitalization of $7.47 billion.
  • Corcept Therapeutics reported $0.29 earnings per share for the last quarter, exceeding estimates, with revenue of $194.43 million, but falling short of the $199.40 million consensus estimate.
  • Want stock alerts on Corcept Therapeutics? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Douglas Lyon sold 5,823 shares of Corcept Therapeutics stock in a transaction on Friday, August 1st. The stock was sold at an average price of $67.51, for a total transaction of $393,110.73. Following the completion of the transaction, the insider owned 10,066 shares in the company, valued at $679,555.66. This trade represents a 36.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 Thursday, July 17th, Joseph Douglas Lyon sold 3,877 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.48, for a total transaction of $284,881.96.
  • 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

Corcept Therapeutics stock traded up $0.82 during trading hours on Friday, hitting $72.30. 666,838 shares of the stock were exchanged, compared to its average volume of 886,694. Corcept Therapeutics Incorporated has a 12 month low of $33.34 and a 12 month high of $117.33. The stock has a market capitalization of $7.62 billion, a P/E ratio of 63.98 and a beta of 0.20. The business's 50-day moving average is $70.97 and its two-hundred day moving average is $68.86.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%. The company had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. During the same period last year, the company posted $0.32 earnings per share. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

A number of large investors have recently modified their holdings of CORT. LPL Financial LLC lifted its position in shares of Corcept Therapeutics by 47.9% during the fourth quarter. LPL Financial LLC now owns 60,682 shares of the biotechnology company's stock worth $3,058,000 after purchasing an additional 19,650 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Corcept Therapeutics by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company's stock valued at $13,096,000 after buying an additional 6,832 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Corcept Therapeutics by 13.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 13,538 shares of the biotechnology company's stock valued at $682,000 after buying an additional 1,639 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Corcept Therapeutics by 5.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,754 shares of the biotechnology company's stock valued at $441,000 after buying an additional 441 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Corcept Therapeutics by 12.8% in the fourth quarter. Franklin Resources Inc. now owns 273,974 shares of the biotechnology company's stock valued at $13,806,000 after buying an additional 31,183 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CORT has been the topic of a number of analyst reports. Wall Street Zen cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Piper Sandler lowered their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Canaccord Genuity Group lowered their target price on shares of Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. HC Wainwright lowered their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $134.50.

Read Our Latest Analysis on Corcept Therapeutics

Corcept Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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