Corcept Therapeutics (NASDAQ:CORT) Stock: Insider Joseph Douglas Lyon Sells 9,190 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Lyon sold 9,190 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $116.13, for a total transaction of $1,067,234.70. Following the transaction, the insider directly owned 5,683 shares in the company, valued at approximately $659,966.79. This trade represents a 61.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, October 1st, Joseph Lyon sold 810 shares of Corcept Therapeutics stock. The stock was sold at an average price of $115.40, for a total transaction of $93,474.00.
• On Monday, September 14th, Joseph Lyon sold 10,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $113.49, for a total value of $1,134,900.00.
• On Monday, August 3rd, Joseph Lyon sold 1,540 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.16, for a total value of $175,806.40.

Corcept Therapeutics Price Performance

CORT traded up $5.80 during trading on Monday, reaching $122.03. 1,004,763 shares of the stock traded hands, compared to its average volume of 1,733,962. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $126.38. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 290.55 and a beta of 0.40. The stock’s 50-day simple moving average is $113.94 and its two-hundred day simple moving average is $81.87.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.02 by $0.34. The business had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.Corcept Therapeutics’s revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. Research analysts anticipate that Corcept Therapeutics Incorporated will post 1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors have recently modified their holdings of CORT. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Corcept Therapeutics in the second quarter valued at approximately $27,000. State of Wyoming raised its holdings in Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 186 shares during the period. IFP Advisors Inc increased its stake in Corcept Therapeutics by 568.4% during the 2nd quarter. IFP Advisors Inc now owns 909 shares of the biotechnology company’s stock worth $79,000 after buying an additional 773 shares during the period. Freestone Grove Partners LP acquired a new position in Corcept Therapeutics in the second quarter worth about $87,000. Finally, Gould Capital LLC boosted its position in Corcept Therapeutics by 66.7% during the 1st quarter. Gould Capital LLC now owns 1,000 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $165.00 target price on shares of Corcept Therapeutics in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $138.17.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.