Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $175,806.40 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 1,540 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $114.16, for a total transaction of $175,806.40. Following the sale, the insider directly owned 5,495 shares in the company, valued at approximately $627,309.20. The trade was a 21.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, May 27th, Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $110.77 on Friday. Corcept Therapeutics Incorporated has a 52 week low of $28.66 and a 52 week high of $122.21. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 263.74 and a beta of 0.45. The stock has a fifty day moving average of $89.31 and a 200-day moving average of $59.37.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. During the same quarter in the previous year, the company posted $0.29 EPS. Corcept Therapeutics’s quarterly revenue was up 31.7% compared to the same quarter last year. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Corcept Therapeutics during the second quarter worth $1,080,964,000. First Trust Advisors LP lifted its holdings in Corcept Therapeutics by 213.5% in the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after buying an additional 1,480,059 shares during the period. AQR Capital Management LLC lifted its holdings in Corcept Therapeutics by 546.9% in the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock valued at $125,264,000 after buying an additional 1,274,215 shares during the period. Geode Capital Management LLC boosted its position in Corcept Therapeutics by 38.0% during the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after acquiring an additional 734,646 shares during the last quarter. Finally, Norges Bank bought a new stake in Corcept Therapeutics during the fourth quarter valued at $24,213,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CORT shares. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research report on Monday, July 27th. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.17.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.