Joseph Douglas Lyon Sells 1,411 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 1,411 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the sale, the insider now directly owns 8,494 shares of the company’s stock, valued at $481,779.68. The trade was a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Corcept Therapeutics Trading Up 0.0 %

Shares of CORT stock opened at $58.60 on Thursday. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $61.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The business’s fifty day moving average price is $49.20 and its 200 day moving average price is $38.52. The firm has a market capitalization of $6.14 billion, a PE ratio of 46.51 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CORT. Franklin Resources Inc. grew its holdings in shares of Corcept Therapeutics by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company’s stock worth $10,998,000 after acquiring an additional 2,475 shares during the period. World Investment Advisors LLC acquired a new stake in Corcept Therapeutics in the third quarter valued at $503,000. Geode Capital Management LLC grew its holdings in Corcept Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after purchasing an additional 99,470 shares during the last quarter. Executive Wealth Management LLC purchased a new position in shares of Corcept Therapeutics in the third quarter valued at $2,804,000. Finally, Tanaka Capital Management Inc. raised its stake in shares of Corcept Therapeutics by 11.8% during the 3rd quarter. Tanaka Capital Management Inc. now owns 112,136 shares of the biotechnology company’s stock worth $5,190,000 after buying an additional 11,860 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on CORT. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Truist Financial lifted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, Piper Sandler lifted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $65.25.

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.