Joseph Douglas Lyon Sells 1,540 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Joseph Douglas Lyon sold 1,540 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $114.16, for a total value of $175,806.40. Following the completion of the transaction, the insider directly owned 5,495 shares in the company, valued at $627,309.20. This trade represents a 21.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, May 27th, Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $65.00, for a total value of $325,000.00.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $107.95 on Friday. The firm has a market cap of $11.67 billion, a PE ratio of 257.03 and a beta of 0.45. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $122.21. The business has a 50 day moving average price of $88.48 and a 200-day moving average price of $59.01.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The firm had revenue of $256.15 million for the quarter, compared to analysts’ expectations of $221.15 million. During the same quarter last year, the business earned $0.29 earnings per share. The business’s revenue was up 31.7% on a year-over-year basis. Research analysts predict that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

Corcept Therapeutics News Summary

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Recent momentum has been supported by Corcept’s raised outlook, which helped drive the stock toward a 52-week high. The company’s latest quarterly results also showed revenue of $256.15 million, up 31.7% year over year and well above the $221.15 million consensus estimate, while adjusted EPS of $0.36 exceeded expectations by $0.34. Raised Guidance Lifts Corcept to 52-Week High
• Positive Sentiment: Analyst sentiment remains broadly favorable. HC Wainwright raised its price target to $165 and maintained a buy rating, while the overall analyst consensus is “Moderate Buy,” with an average target of $119.17. Zacks also upgraded the stock from “strong sell” to “hold.” Corcept Therapeutics analyst ratings
• Neutral Sentiment: Corcept has attracted continued institutional ownership, with institutional investors and hedge funds holding approximately 93.6% of outstanding shares. Several funds recently increased their positions, although these changes were relatively small.
• Negative Sentiment: Multiple insiders have recently sold shares after the stock’s sharp advance. Sean Maduck sold 20,305 shares for approximately $2.33 million, reducing his holdings by 67.55%; William Guyer sold 3,700 shares for about $418,544, cutting his ownership by 48.15%; and Joseph Douglas Lyon sold 1,540 shares worth $175,806, reducing his position by 21.89%. The concentration of sales may raise concerns about insider confidence or encourage profit-taking. Corcept Therapeutics insider selling
• Negative Sentiment: Valuation risk is elevated following the rally: Corcept trades at more than 250 times earnings, leaving the stock vulnerable to profit-taking and disappointment despite its strong growth. Wolfe Research remains bearish, assigning an “underperform” rating and a $50 price target.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CORT. Royal Bank of Canada lifted its position in shares of Corcept Therapeutics by 18.9% in the 1st quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock worth $1,757,000 after purchasing an additional 2,444 shares during the period. Amundi purchased a new position in shares of Corcept Therapeutics during the first quarter valued at about $450,000. NewEdge Advisors LLC bought a new position in Corcept Therapeutics in the first quarter worth about $518,000. EverSource Wealth Advisors LLC raised its stake in Corcept Therapeutics by 273.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock worth $106,000 after buying an additional 1,055 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Corcept Therapeutics by 795.3% in the second quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock worth $3,391,000 after buying an additional 41,040 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CORT shares. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. UBS Group set a $135.00 target price on Corcept Therapeutics in a research note on Thursday, May 28th. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Finally, HC Wainwright increased their price objective on Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $119.17.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.