Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $80,031.92 in Stock

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

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $58.60 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. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $61.66. The company has a 50-day simple moving average of $49.52 and a 200-day simple moving average of $38.66. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 46.51 and a beta of 0.45.

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

Analyst Ratings Changes

CORT has been the subject of several recent analyst reports. Truist Financial raised their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Piper Sandler increased their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics has a consensus rating of “Buy” and an average target price of $65.25.

Hedge Funds Weigh In On Corcept Therapeutics

A number of large investors have recently bought and sold shares of CORT. Hancock Whitney Corp increased its stake in shares of Corcept Therapeutics by 1.2% during the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock worth $1,062,000 after acquiring an additional 270 shares during the period. KBC Group NV raised its stake in shares of Corcept Therapeutics by 21.3% during the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after buying an additional 496 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Corcept Therapeutics by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company’s stock worth $174,000 after acquiring an additional 510 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the third quarter worth about $25,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Corcept Therapeutics by 0.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock valued at $4,138,000 after purchasing an additional 541 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.