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

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 421 shares of the business’s stock in a transaction dated 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 approximately $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $56.68 on Friday. The company has a market capitalization of $5.98 billion, a PE ratio of 44.98 and a beta of 0.61. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $75.00. The firm has a fifty day simple moving average of $61.91 and a 200 day simple moving average of $54.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. On average, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds 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 acquired a new position in shares of Corcept Therapeutics during the 4th quarter valued at $40,000. National Bank of Canada FI acquired a new position in shares of Corcept Therapeutics during the 4th quarter valued at $42,000. USA Financial Formulas bought a new position in Corcept Therapeutics during the fourth quarter worth $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Corcept Therapeutics in the fourth quarter worth $58,000. 93.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CORT. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Canaccord Genuity Group raised their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Piper Sandler upped their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.75.

Corcept Therapeutics Company Profile

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.