Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Joseph Douglas Lyon Sells 10,830 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 10,830 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $26.00, for a total transaction of $281,580.00. Following the transaction, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $190,164. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, April 4th, Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock. The shares were sold at an average price of $26.00, for a total value of $141,518.00.
• On Monday, April 1st, Joseph Douglas Lyon sold 500 shares of Corcept Therapeutics stock. The shares were sold at an average price of $26.01, for a total transaction of $13,005.00.
• On Friday, February 16th, Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $25.40 on Thursday. The stock’s 50-day moving average is $24.03 and its two-hundred day moving average is $25.13. The stock has a market cap of $2.64 billion, a PE ratio of 23.96 and a beta of 0.50. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The company had revenue of $146.80 million during the quarter, compared to the consensus estimate of $141.19 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The company’s revenue was up 38.9% compared to the same quarter last year. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 0.97 earnings per share for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in Corcept Therapeutics in the fourth quarter worth $32,000. Gladius Capital Management LP acquired a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $36,000. GAMMA Investing LLC raised its stake in shares of Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 579 shares in the last quarter. Planned Solutions Inc. acquired a new stake in Corcept Therapeutics in the 4th quarter worth approximately $45,000. Finally, Headlands Technologies LLC bought a new stake in Corcept Therapeutics during the fourth quarter worth approximately $47,000. Institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CORT. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Truist Financial raised their target price on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, HC Wainwright boosted their price target on shares of Corcept Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.10.

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.