Joseph Douglas Lyon Sells 5,000 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Douglas Lyon sold 5,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $78.04, for a total value of $390,200.00. Following the completion of the transaction, the insider now directly owns 9,009 shares of the company's stock, valued at approximately $703,062.36. The trade was a 35.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, March 24th, Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock. The shares were sold at an average price of $60.58, for a total value of $25,504.18.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock traded up $0.59 on Friday, hitting $69.60. 972,774 shares of the company's stock were exchanged, compared to its average volume of 1,150,167. The stock has a market capitalization of $7.38 billion, a PE ratio of 55.24 and a beta of 0.19. Corcept Therapeutics Incorporated has a 1 year low of $28.04 and a 1 year high of $117.33. The company has a 50-day simple moving average of $72.03 and a 200-day simple moving average of $63.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $157.21 million for the quarter, compared to the consensus estimate of $177.93 million. During the same period in the previous year, the firm posted $0.25 EPS. Corcept Therapeutics's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

Several large investors have recently added to or reduced their stakes in CORT. Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $27,000. Canada Pension Plan Investment Board purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at $40,000. National Bank of Canada FI purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at $42,000. Brooklyn Investment Group boosted its holdings in Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock worth $43,000 after buying an additional 186 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Corcept Therapeutics during the fourth quarter worth $58,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CORT. HC Wainwright lowered their target price on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research note on Tuesday, May 6th. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Finally, Piper Sandler upped their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Corcept Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $138.25.

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.