Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $80,031.92 in Stock

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

Corcept Therapeutics Trading Down 0.8 %

CORT stock traded down $0.45 during midday trading on Tuesday, reaching $58.58. The company’s stock had a trading volume of 788,756 shares, compared to its average volume of 1,177,516. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 46.49 and a beta of 0.45. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $61.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a fifty day simple moving average of $48.82 and a two-hundred day simple moving average of $38.29.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler lifted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $65.25.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Oak Ridge Investments LLC bought a new stake in shares of Corcept Therapeutics in the second quarter valued at about $984,000. M&G PLC bought a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at about $11,173,000. Milestone Asset Management LLC lifted its position in shares of Corcept Therapeutics by 47.4% in the 2nd quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock worth $1,676,000 after purchasing an additional 16,593 shares during the period. Vanguard Group Inc. boosted its stake in shares of Corcept Therapeutics by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock valued at $240,962,000 after purchasing an additional 28,250 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in Corcept Therapeutics during the third quarter valued at approximately $1,784,000. 93.61% of the stock is owned by 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.