Joseph Douglas Lyon Sells 10,830 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 10,830 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $26.00, for a total value of $281,580.00. Following the transaction, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $190,164. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Thursday, April 4th, Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock. The shares were sold at an average price of $26.00, for a total value of $141,518.00.
• On Monday, April 1st, Joseph Douglas Lyon sold 500 shares of Corcept Therapeutics stock. The stock was sold at an average price of $26.01, for a total transaction of $13,005.00.
• On Friday, February 16th, Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00.

Corcept Therapeutics Price Performance

CORT opened at $24.48 on Wednesday. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $34.28. The company’s 50 day moving average price is $23.99 and its two-hundred day moving average price is $25.13. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 23.09 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. Corcept Therapeutics’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 0.97 EPS for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CORT. Sei Investments Co. lifted its stake in shares of Corcept Therapeutics by 207.7% in the first quarter. Sei Investments Co. now owns 61,627 shares of the biotechnology company’s stock worth $1,552,000 after acquiring an additional 41,600 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter worth approximately $371,000. KCM Investment Advisors LLC boosted its stake in shares of Corcept Therapeutics by 7.6% in the 1st quarter. KCM Investment Advisors LLC now owns 57,226 shares of the biotechnology company’s stock valued at $1,442,000 after purchasing an additional 4,026 shares during the last quarter. Swiss National Bank boosted its stake in shares of Corcept Therapeutics by 0.7% in the 1st quarter. Swiss National Bank now owns 172,965 shares of the biotechnology company’s stock valued at $4,357,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of Corcept Therapeutics by 5.2% during the first quarter. Illinois Municipal Retirement Fund now owns 52,460 shares of the biotechnology company’s stock worth $1,321,000 after buying an additional 2,608 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CORT. Truist Financial increased their price objective on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. HC Wainwright increased their price target on Corcept Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $40.10.

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.