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

Key Points

• Insider selling: Joseph Douglas Lyon sold 810 Corcept Therapeutics shares for $93,474, reducing his position by 12.47% to 5,683 shares. He also recently sold an additional 20,730 shares in three transactions.
• Strong operating results: Corcept reported quarterly revenue of $256.15 million, up 31.7% year over year, and EPS of $0.36—beating the $0.02 consensus estimate.
• Stock and analyst outlook: Shares traded at $122.03, near their 12-month high of $126.38. Analysts maintain a “Moderate Buy” consensus with an average price target of $138.17, while institutional investors own 93.61% of the stock.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Lyon sold 810 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $115.40, for a total value of $93,474.00. Following the sale, the insider owned 5,683 shares of the company's stock, valued at approximately $655,818.20. This trade represents a 12.47% decrease in their position. The transaction 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 Friday, October 2nd, Joseph Lyon sold 9,190 shares of Corcept Therapeutics stock. The stock was 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 shares were 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 transaction of $175,806.40.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded up $5.80 during trading on Monday, hitting $122.03. The company's stock had a trading volume of 1,004,763 shares, compared to its average volume of 1,733,962. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 290.55 and a beta of 0.40. The company has a 50-day moving average of $113.94 and a 200-day moving average of $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 - Get Free Report) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating 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 business posted $0.29 earnings per share. The firm's quarterly revenue was up 31.7% compared to the same quarter last year. As a group, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings upgraded Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, September 24th. HC Wainwright reiterated a "buy" rating and set a $165.00 target price on shares of Corcept Therapeutics in a research report on Friday, September 18th. Wolfe Research lowered Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price target for the company. in a report on Monday, July 27th. Wall Street Zen upgraded Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Finally, Truist Financial initiated coverage on Corcept Therapeutics in a research note on Tuesday, August 18th. They issued a "buy" rating and a $164.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $138.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Corcept Therapeutics in the 2nd quarter worth approximately $1,080,964,000. Parallel Advisors LLC boosted its position in shares of Corcept Therapeutics by 2.5% during the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company's stock valued at $160,329,000 after acquiring an additional 96,763 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 valued at $92,892,000 after purchasing an additional 734,646 shares in the last quarter. First Trust Advisors LP increased its position 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 during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Corcept Therapeutics in the second quarter worth $49,185,000. Institutional investors own 93.61% of the company's stock.

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.

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