Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 1,411 Shares of Stock

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

Corcept Therapeutics Trading Up 0.0 %

Shares of CORT stock opened at $58.60 on Thursday. The firm’s 50-day simple moving average is $49.20 and its 200-day simple moving average is $38.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $61.66. The firm has a market cap of $6.14 billion, a P/E ratio of 46.51 and a beta of 0.45.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Corcept Therapeutics in the 3rd quarter worth about $25,000. Kathleen S. Wright Associates Inc. acquired a new stake in Corcept Therapeutics during the 3rd quarter worth approximately $36,000. Park Place Capital Corp purchased a new position in Corcept Therapeutics in the second quarter valued at approximately $32,000. Atwood & Palmer Inc. acquired a new position in Corcept Therapeutics during the second quarter valued at approximately $35,000. Finally, GAMMA Investing LLC grew its stake in Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,147 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Ratings Changes

CORT has been the topic of a number of analyst reports. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Truist Financial boosted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $65.25.

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.