Corcept Therapeutics (NASDAQ:CORT) Insider Joseph Douglas Lyon Sells 5,000 Shares

Key Points

• Joseph Douglas Lyon, an insider at Corcept Therapeutics, sold 5,000 shares of the company stock for approximately $423,750, reducing his ownership stake by 32.73%.
• Corcept Therapeutics has a current stock price of $88.15 and has shown substantial growth over the past year, with a high of $117.33 and a low of $42.01.
• Equities analysts have varying ratings on Corcept's stock, with a consensus rating of "Moderate Buy" and a price target averaging $135.25.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.75, for a total transaction of $423,750.00. Following the sale, the insider directly owned 10,277 shares in the company, valued at approximately $870,975.75. The trade was a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, September 2nd, Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.25, for a total value of $351,250.00.
• On Friday, August 1st, Joseph Douglas Lyon sold 5,823 shares of Corcept Therapeutics stock. The stock was sold at an average price of $67.51, for a total value of $393,110.73.
• On Friday, July 18th, Joseph Douglas Lyon sold 200 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.40, for a total value of $14,680.00.
• On Thursday, July 17th, Joseph Douglas Lyon sold 3,877 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.48, for a total value of $284,881.96.

Corcept Therapeutics Stock Performance

NASDAQ CORT traded up $2.67 during trading hours on Friday, hitting $88.15. The company had a trading volume of 843,089 shares, compared to its average volume of 1,242,188. Corcept Therapeutics Incorporated has a 1-year low of $42.01 and a 1-year high of $117.33. The company has a market cap of $9.29 billion, a PE ratio of 78.01 and a beta of 0.46. The business has a 50 day moving average of $73.42 and a 200-day moving average of $71.91.

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, topping the consensus estimate of $0.23 by $0.06. The business had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The business's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CORT shares. Piper Sandler decreased their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Corcept Therapeutics in a research note on Saturday, September 27th. Zacks Research lowered shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Canaccord Genuity Group restated a "buy" rating and set a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Finally, Wall Street Zen upgraded shares of Corcept Therapeutics from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.25.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds have recently made changes to their positions in CORT. Norges Bank acquired a new position in shares of Corcept Therapeutics in the 2nd quarter valued at $72,048,000. TD Asset Management Inc acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter worth about $60,179,000. Epoch Investment Partners Inc. acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter worth about $56,181,000. Jupiter Asset Management Ltd. increased its position in shares of Corcept Therapeutics by 8,176.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company's stock worth $68,978,000 after purchasing an additional 596,606 shares in the last quarter. Finally, Invesco Ltd. increased its position in Corcept Therapeutics by 76.5% in the 1st quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company's stock valued at $142,345,000 after acquiring an additional 540,101 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

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.

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