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

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the sale, the insider now directly owns 9,009 shares of the company’s stock, valued at $545,765.22. This represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $56.68 on Friday. 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’s 50-day simple moving average is $61.91 and its 200 day simple moving average is $54.33. The company has a market cap of $5.98 billion, a P/E ratio of 44.98 and a beta of 0.61. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The firm had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently added to or reduced their stakes in CORT. Wealth Enhancement Advisory Services LLC grew its holdings in Corcept Therapeutics by 50.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,724 shares of the biotechnology company’s stock valued at $389,000 after buying an additional 2,578 shares in the last quarter. Cache Advisors LLC bought a new position in Corcept Therapeutics in the fourth quarter valued at about $378,000. Public Employees Retirement System of Ohio grew its holdings in shares of Corcept Therapeutics by 269.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company’s stock valued at $144,000 after purchasing an additional 2,086 shares during the last quarter. Vise Technologies Inc. acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $204,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Corcept Therapeutics by 11.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 224,713 shares of the biotechnology company’s stock valued at $11,323,000 after purchasing an additional 22,361 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.75.

Corcept Therapeutics Company Profile

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.