Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $281,580.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 10,830 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $26.00, for a total value of $281,580.00. Following the completion of the sale, the insider now directly owns 7,314 shares in the company, valued at approximately $190,164. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, April 4th, Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock. The stock was sold at an average price of $26.00, for a total value of $141,518.00.
• On Monday, April 1st, Joseph Douglas Lyon sold 500 shares of Corcept Therapeutics stock. The stock was sold at an average price of $26.01, for a total transaction of $13,005.00.
• On Friday, February 16th, Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $26.00, for a total value of $26,000.00.

Corcept Therapeutics Stock Up 3.8 %

NASDAQ:CORT opened at $25.40 on Thursday. The company has a market capitalization of $2.64 billion, a PE ratio of 23.96 and a beta of 0.50. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $34.28. The stock’s 50 day moving average price is $24.03 and its 200 day moving average price is $25.13.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. As a group, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CORT shares. HC Wainwright raised their target price on shares of Corcept Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Truist Financial lifted their price objective on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $40.10.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 579 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth approximately $32,000. Gladius Capital Management LP acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $36,000. Planned Solutions Inc. acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $45,000. Finally, FinTrust Capital Advisors LLC increased its stake in Corcept Therapeutics by 318.7% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,348 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.