Corcept Therapeutics Incorporated (NASDAQ:CORT) CAO Sells $111,793.47 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) CAO Joseph Douglas Lyon sold 3,977 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $28.11, for a total value of $111,793.47. Following the completion of the transaction, the chief accounting officer now owns 5,854 shares in the company, valued at approximately $164,555.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, October 6th, Joseph Douglas Lyon sold 2,582 shares of Corcept Therapeutics stock. The shares were sold at an average price of $27.24, for a total value of $70,333.68.
• On Monday, October 2nd, Joseph Douglas Lyon sold 2,418 shares of Corcept Therapeutics stock. The shares were sold at an average price of $27.25, for a total value of $65,890.50.
• On Friday, September 1st, Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $32.73, for a total value of $163,650.00.
• On Monday, August 21st, Joseph Douglas Lyon sold 4,588 shares of Corcept Therapeutics stock. The shares were sold at an average price of $31.19, for a total value of $143,099.72.
• On Monday, August 7th, Joseph Douglas Lyon sold 412 shares of Corcept Therapeutics stock. The shares were sold at an average price of $31.22, for a total value of $12,862.64.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $25.62 on Monday. The business has a fifty day simple moving average of $29.84 and a two-hundred day simple moving average of $26.53. Corcept Therapeutics Incorporated has a 1 year low of $17.86 and a 1 year high of $34.28. The company has a market capitalization of $2.63 billion, a P/E ratio of 31.63 and a beta of 0.43.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, November 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. Corcept Therapeutics had a return on equity of 18.76% and a net margin of 20.20%. The business had revenue of $123.60 million during the quarter, compared to the consensus estimate of $119.71 million. During the same period last year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CORT shares. Truist Financial restated a “hold” rating and issued a $29.00 target price on shares of Corcept Therapeutics in a report on Monday, October 2nd. LADENBURG THALM/SH SH raised their target price on Corcept Therapeutics from $44.00 to $47.50 in a report on Thursday, August 3rd. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, HC Wainwright increased their price target on Corcept Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and an average price target of $31.06.

Institutional Trading of Corcept Therapeutics

A number of large investors have recently bought and sold shares of CORT. Ingalls & Snyder LLC increased its position in Corcept Therapeutics by 22.6% in the first quarter. Ingalls & Snyder LLC now owns 8,370,017 shares of the biotechnology company’s stock worth $181,295,000 after buying an additional 1,544,755 shares during the last quarter. Granite Investment Partners LLC purchased a new position in shares of Corcept Therapeutics in the first quarter valued at $17,221,000. Norges Bank purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at $15,648,000. Vanguard Group Inc. grew its position in shares of Corcept Therapeutics by 4.6% in the third quarter. Vanguard Group Inc. now owns 10,332,077 shares of the biotechnology company’s stock valued at $264,915,000 after purchasing an additional 458,414 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Corcept Therapeutics by 2.5% in the first quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company’s stock valued at $347,366,000 after purchasing an additional 376,774 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.