Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Joseph Douglas Lyon Sells 421 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the sale, the insider now owns 9,009 shares of the company’s stock, valued at $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Corcept Therapeutics Stock Down 2.1 %

Shares of CORT stock opened at $57.11 on Thursday. The firm’s fifty day moving average price is $61.86 and its two-hundred day moving average price is $54.31. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $75.00. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $6.03 billion, a P/E ratio of 45.33 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Synergy Asset Management LLC grew its position in shares of Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after acquiring an additional 262,503 shares during the period. Van ECK Associates Corp acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $4,483,000. State Street Corp grew its holdings in Corcept Therapeutics by 0.6% during the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after purchasing an additional 19,893 shares during the period. Burney Co. increased its position in Corcept Therapeutics by 9.1% during the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after buying an additional 39,657 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Corcept Therapeutics by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock valued at $11,712,000 after buying an additional 76,573 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Piper Sandler increased their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. 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 company has an average rating of “Moderate Buy” and an average price target of $99.75.

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.