Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 200 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Douglas Lyon sold 200 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $73.40, for a total transaction of $14,680.00. Following the transaction, the insider directly owned 10,066 shares of the company's stock, valued at $738,844.40. This represents a 1.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 stock was 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 stock was sold at an average price of $78.04, for a total transaction of $390,200.00.

Corcept Therapeutics Price Performance

CORT stock traded down $0.74 during midday trading on Monday, hitting $70.12. The company's stock had a trading volume of 628,963 shares, compared to its average volume of 1,184,765. The stock has a market capitalization of $7.44 billion, a P/E ratio of 60.45 and a beta of 0.15. The company's fifty day moving average price is $72.75 and its 200 day moving average price is $67.35. Corcept Therapeutics Incorporated has a twelve month low of $32.33 and a twelve month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates 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 analyst estimates 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% compared to the same quarter last year. Equities analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in Corcept Therapeutics during the fourth quarter valued at approximately $40,000. National Bank of Canada FI purchased a new position in Corcept Therapeutics in the 4th quarter worth approximately $42,000. Brooklyn Investment Group lifted its holdings in shares of Corcept Therapeutics by 99.5% in the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock worth $43,000 after acquiring an additional 186 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Corcept Therapeutics in the 2nd quarter worth approximately $56,000. Finally, Gen Wealth Partners Inc bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $67,000. 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.

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