Corcept Therapeutics (NASDAQ:CORT) Insider Sells $397,650.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $79.53, for a total transaction of $397,650.00. Following the completion of the transaction, the insider owned 10,277 shares of the company’s stock, valued at approximately $817,329.81. This trade represents a 32.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, November 3rd, Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.65, for a total transaction of $368,250.00.
• On Wednesday, October 1st, Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $84.75, for a total transaction of $423,750.00.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $86.11 on Friday. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 97.85 and a beta of 0.20. Corcept Therapeutics Incorporated has a twelve month low of $49.00 and a twelve month high of $117.33. The stock has a fifty day simple moving average of $78.27 and a 200 day simple moving average of $74.47. The company has a quick ratio of 3.07, a current ratio of 3.14 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $207.64 million during the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

CORT has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and set a $145.00 price target on shares of Corcept Therapeutics in a report on Tuesday, November 25th. Wolfe Research assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday. Zacks Research downgraded Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $135.25.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CORT. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Corcept Therapeutics by 883.0% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company’s stock valued at $1,443,000 after purchasing an additional 17,660 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Corcept Therapeutics by 154.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 58,596 shares of the biotechnology company’s stock worth $4,301,000 after buying an additional 35,539 shares during the period. Voya Investment Management LLC boosted its position in Corcept Therapeutics by 5.3% during the 1st quarter. Voya Investment Management LLC now owns 234,648 shares of the biotechnology company’s stock valued at $26,801,000 after acquiring an additional 11,898 shares in the last quarter. Iron Gate Global Advisors LLC purchased a new position in shares of Corcept Therapeutics during the 1st quarter worth approximately $400,000. Finally, Emerald Mutual Fund Advisers Trust raised its position in shares of Corcept Therapeutics by 299.0% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 150,906 shares of the biotechnology company’s stock worth $11,076,000 after acquiring an additional 113,088 shares in the last quarter. Institutional investors 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.