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 that occurred on Thursday, May 2nd. The stock was sold at an average price of $26.00, for a total value of $281,580.00. Following the sale, the insider now directly owns 7,314 shares in the company, valued at approximately $190,164. The sale 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 Thursday, April 4th, Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock. The stock was 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 stock was 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 stock was sold at an average price of $26.00, for a total transaction of $26,000.00.

Corcept Therapeutics Stock Down 2.2 %

Corcept Therapeutics stock opened at $23.97 on Tuesday. The company’s fifty day simple moving average is $23.99 and its 200-day simple moving average is $25.15. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $34.28. The stock has a market cap of $2.50 billion, a P/E ratio of 22.61 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The business had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $141.19 million. During the same period in the previous year, the company posted $0.14 EPS. Corcept Therapeutics’s revenue was up 38.9% on a year-over-year basis. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

CORT has been the topic of several recent research reports. Truist Financial lifted their price target on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, HC Wainwright lifted their price objective on shares of Corcept Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $40.10.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at $202,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Corcept Therapeutics during the 3rd quarter worth about $4,726,000. New York State Teachers Retirement System increased its stake in Corcept Therapeutics by 2.7% in the third quarter. New York State Teachers Retirement System now owns 140,461 shares of the biotechnology company’s stock valued at $3,827,000 after acquiring an additional 3,734 shares during the period. Strs Ohio bought a new stake in Corcept Therapeutics in the third quarter valued at about $54,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Corcept Therapeutics by 351.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 83,697 shares of the biotechnology company’s stock valued at $2,280,000 after acquiring an additional 65,148 shares during the period. 93.61% of the stock is currently 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 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.