Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Joseph Douglas Lyon Sells 421 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the sale, the insider now owns 9,009 shares in the company, valued at $545,765.22. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Corcept Therapeutics Price Performance

Shares of CORT stock traded down $1.21 during mid-day trading on Wednesday, hitting $57.11. 636,435 shares of the stock traded hands, compared to its average volume of 969,042. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $75.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company’s 50-day simple moving average is $61.86 and its 200-day simple moving average is $54.31. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 45.33 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on CORT shares. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Piper Sandler increased their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.75.

Institutional Trading of Corcept Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CORT. Synergy Asset Management LLC increased its holdings in shares of Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after buying an additional 262,503 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Corcept Therapeutics in the 4th quarter worth $4,483,000. State Street Corp raised its position in shares of Corcept Therapeutics by 0.6% during the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after purchasing an additional 19,893 shares during the period. Burney Co. lifted its holdings in shares of Corcept Therapeutics by 9.1% during the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock valued at $23,876,000 after purchasing an additional 39,657 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Corcept Therapeutics by 43.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock valued at $11,712,000 after purchasing an additional 76,573 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

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.