Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Joseph Douglas Lyon Sells 1,411 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the sale, the insider now owns 8,494 shares in the company, valued at approximately $481,779.68. The trade was a 14.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Corcept Therapeutics Stock Down 0.8 %

Shares of CORT stock opened at $58.58 on Wednesday. The stock has a market cap of $6.14 billion, a P/E ratio of 46.49 and a beta of 0.45. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $61.66. The stock has a fifty day moving average price of $48.82 and a 200 day moving average price of $38.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Corcept Therapeutics’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. Analysts predict that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CORT. Jacobs Levy Equity Management Inc. bought a new position in shares of Corcept Therapeutics during the first quarter valued at $18,426,000. FMR LLC lifted its holdings in shares of Corcept Therapeutics by 24.6% during the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after acquiring an additional 269,074 shares during the period. M&G PLC bought a new position in shares of Corcept Therapeutics during the third quarter valued at $11,173,000. Janus Henderson Group PLC lifted its holdings in shares of Corcept Therapeutics by 482.6% during the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock valued at $6,677,000 after acquiring an additional 219,551 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Corcept Therapeutics by 20.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock valued at $39,781,000 after buying an additional 143,507 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Piper Sandler raised their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Truist Financial raised their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $65.25.

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.