Joseph Douglas Lyon Sells 3,877 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 3,877 shares of the stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $73.48, for a total transaction of $284,881.96. Following the transaction, the insider owned 10,066 shares of the company’s stock, valued at $739,649.68. This trade represents a 27.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, July 18th, Joseph Douglas Lyon sold 200 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.40, for a total transaction of $14,680.00.
• On Tuesday, July 1st, Joseph Douglas Lyon sold 100 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.50, for a total transaction of $7,350.00.
• On Monday, June 2nd, Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $78.04, for a total transaction of $390,200.00.

Corcept Therapeutics Trading Down 1.5%

CORT opened at $69.08 on Wednesday. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 59.55 and a beta of 0.15. Corcept Therapeutics Incorporated has a 12 month low of $32.33 and a 12 month high of $117.33. The stock has a fifty day moving average price of $72.68 and a 200-day moving average price of $67.50.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

A number of large investors have recently added to or reduced their stakes in CORT. Canada Pension Plan Investment Board acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $40,000. National Bank of Canada FI acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $42,000. Brooklyn Investment Group increased its position in shares of Corcept Therapeutics by 99.5% in the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 186 shares during the period. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics in the 2nd quarter valued at $56,000. Finally, Gen Wealth Partners Inc acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $67,000. 93.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CORT shares. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research report on Tuesday, May 6th. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, HC Wainwright dropped their price target on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.25.

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.