Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $25,504.18 in Stock

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 transaction of $25,504.18. Following the sale, the insider now directly owns 9,009 shares of the company’s stock, valued at approximately $545,765.22. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Corcept Therapeutics Stock Down 2.1 %

CORT traded down $1.21 during trading hours on Wednesday, reaching $57.11. 636,435 shares of the stock traded hands, compared to its average volume of 969,042. 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 firm’s fifty day simple moving average is $61.86 and its two-hundred day simple moving average is $54.31. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 45.33 and a beta of 0.61. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $75.00.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on CORT shares. StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler upped their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group upped 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.75.

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently modified their holdings of the stock. Black Diamond Financial LLC increased its holdings in Corcept Therapeutics by 4.0% in the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock valued at $262,000 after buying an additional 200 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Corcept Therapeutics by 9.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock valued at $150,000 after acquiring an additional 257 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Corcept Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock valued at $426,000 after acquiring an additional 268 shares in the last quarter. Hancock Whitney Corp raised its position in shares of Corcept Therapeutics by 1.2% during the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after acquiring an additional 270 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Corcept Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock worth $1,374,000 after purchasing an additional 289 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

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.