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 shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the completion of the sale, the insider now owns 9,009 shares of the company’s stock, valued at $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $54.63 on Friday. 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 firm has a market cap of $5.76 billion, a price-to-earnings ratio of 43.36 and a beta of 0.61. The stock’s fifty day moving average price is $61.89 and its two-hundred day moving average price is $54.47. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CORT. Piper Sandler raised their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group raised their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.75.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CORT. Kestra Investment Management LLC acquired a new stake in Corcept Therapeutics during the fourth quarter worth approximately $27,000. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth $40,000. National Bank of Canada FI bought a new position in shares of Corcept Therapeutics in the fourth quarter worth $42,000. USA Financial Formulas acquired a new position in Corcept Therapeutics in the fourth quarter valued at about $54,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Corcept Therapeutics during the fourth quarter worth about $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.