Corcept Therapeutics (NASDAQ:CORT) Stock: Insider Joseph Douglas Lyon Sells 9,190 Shares

Key Points

• Insider Joseph Douglas Lyon sold 9,190 Corcept Therapeutics shares at an average price of $116.13, generating approximately $1.07 million. The transaction reduced his direct ownership by 61.79% to 5,683 shares.
• Corcept shares recently traded at $122.03, near their 12-month high of $126.38, while the company reported quarterly revenue of $256.15 million and adjusted EPS of $0.36—both ahead of analyst expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $138.17, and institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Lyon sold 9,190 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $116.13, for a total value of $1,067,234.70. Following the transaction, the insider directly owned 5,683 shares of the company's stock, valued at approximately $659,966.79. This represents a 61.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, October 1st, Joseph Lyon sold 810 shares of Corcept Therapeutics stock. The stock was sold at an average price of $115.40, for a total transaction of $93,474.00.
• 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 stock was sold at an average price of $114.16, for a total value of $175,806.40.

Corcept Therapeutics Price Performance

Shares of CORT traded up $5.80 on Monday, reaching $122.03. The company's stock had a trading volume of 1,004,763 shares, compared to its average volume of 1,733,962. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $126.38. The stock's 50 day simple moving average is $113.94 and its two-hundred day simple moving average is $81.87. The stock has a market capitalization of $13.19 billion, a P/E ratio of 290.55 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The firm 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. The business's revenue was up 31.7% on a year-over-year basis. Analysts expect that Corcept Therapeutics Incorporated will post 1.86 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on CORT. Wall Street Zen upgraded Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Truist Financial initiated coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They set a "buy" rating and a $164.00 price objective on the stock. Wolfe Research downgraded shares of Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price objective on the stock. in a report on Monday, July 27th. Weiss Ratings upgraded shares of Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Finally, Zacks Research raised Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $138.17.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. grew its position in Corcept Therapeutics by 25.4% in the 2nd quarter. QRG Capital Management Inc. now owns 9,042 shares of the biotechnology company's stock worth $786,000 after purchasing an additional 1,834 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Corcept Therapeutics by 1.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,617 shares of the biotechnology company's stock valued at $923,000 after buying an additional 184 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Corcept Therapeutics during the 2nd quarter worth about $645,000. Tidal Investments LLC increased its holdings in shares of Corcept Therapeutics by 9.2% during the 2nd quarter. Tidal Investments LLC now owns 24,218 shares of the biotechnology company's stock valued at $2,106,000 after purchasing an additional 2,039 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $558,000. Institutional investors own 93.61% of the company's stock.

About Corcept Therapeutics

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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