Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 421 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 421 shares of the firm’s stock in a transaction dated 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 owns 9,009 shares of the company’s stock, valued at approximately $545,765.22. This represents a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Corcept Therapeutics Trading Down 2.1 %

Shares of NASDAQ:CORT opened at $57.11 on Thursday. The business’s 50 day simple moving average is $61.86 and its 200 day simple moving average 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 debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company 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 released its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (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 return on equity of 24.54% and a net margin of 22.35%. On average, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $115.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, February 27th. Piper Sandler lifted their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $99.75.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds have recently bought and sold shares of the company. Kestra Investment Management LLC bought a new position in Corcept Therapeutics in the fourth quarter valued at approximately $27,000. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at $40,000. National Bank of Canada FI bought a new position in shares of Corcept Therapeutics in the 4th quarter valued at $42,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth $54,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth $58,000. 93.61% of the stock is owned by institutional investors.

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.