Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $1,134,900.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Lyon sold 10,000 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $113.49, for a total value of $1,134,900.00. Following the sale, the insider owned 5,683 shares in the company, valued at approximately $644,963.67. The trade was a 63.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 Stock Up 0.9%

CORT traded up $0.99 during trading on Wednesday, hitting $111.81. The company’s stock had a trading volume of 648,684 shares, compared to its average volume of 1,475,606. The firm has a market capitalization of $12.09 billion, a P/E ratio of 266.22 and a beta of 0.45. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38. The stock’s fifty day moving average price is $107.38 and its 200-day moving average price is $73.87.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data 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 company had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. Equities research analysts expect that Corcept Therapeutics Incorporated will post 2.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CORT has been the topic of several research reports. HC Wainwright upped their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings cut Corcept Therapeutics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, September 8th. Piper Sandler restated an “overweight” rating and set a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Finally, Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.17.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CORT. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Corcept Therapeutics in the 2nd quarter valued at about $27,000. State of Wyoming increased its holdings in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Corcept Therapeutics by 568.4% in the second quarter. IFP Advisors Inc now owns 909 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 773 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Corcept Therapeutics by 113.7% in the fourth quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 524 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of Corcept Therapeutics in the second quarter valued at approximately $87,000. 93.61% of the stock is owned by institutional investors.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering and developing medicines that modulate the effects of the stress hormone cortisol. The company’s research centers on the glucocorticoid receptor, which regulates cortisol activity and may play a role in metabolic, psychiatric, oncologic and other serious diseases.

Corcept’s commercial product is Korlym (mifepristone), an oral 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 not responded adequately to surgery.