Key Points
- Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics on Dec. 1 at an average price of $79.53 for $397,650, cutting his stake by 32.73% to 10,277 shares per the SEC filing.
- The sale continues a pattern of recent insider disposals — Lyon also sold 5,000 shares on Nov. 3 at $73.65 and 5,000 shares on Oct. 1 at $84.75.
- Corcept recently missed quarterly expectations (Q3 EPS $0.16 vs. $0.18 consensus; revenue $207.6M vs. $223.8M), the stock has a market cap of ~$8.8B, and analysts have a consensus rating of Hold with an average price target of $135.25.
Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Douglas Lyon sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.53, for a total transaction of $397,650.00. Following the sale, the insider directly owned 10,277 shares of the company's stock, valued at $817,329.81. The trade was a 32.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
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
Shares of Corcept Therapeutics stock opened at $83.67 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. Corcept Therapeutics Incorporated has a 1 year low of $49.00 and a 1 year high of $117.33. The firm's 50-day simple moving average is $78.19 and its 200-day simple moving average is $74.32. The firm has a market cap of $8.80 billion, a PE ratio of 95.08 and a beta of 0.20.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The business had revenue of $207.64 million for the quarter, compared to the consensus estimate of $223.78 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on CORT shares. Canaccord Genuity Group restated a "buy" rating and set a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Wolfe Research initiated coverage on shares of Corcept Therapeutics in a research note on Tuesday, November 18th. They set a "peer perform" rating on the stock. Wall Street Zen downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, October 18th. Zacks Research lowered shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Corcept Therapeutics in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of "Hold" and an average price target of $135.25.
Check Out Our Latest Stock Analysis on CORT
Institutional Trading of Corcept Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of CORT. Advisory Services Network LLC purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter worth about $25,000. Clearstead Advisors LLC increased its holdings in Corcept Therapeutics by 163.6% in the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company's stock worth $26,000 after buying an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Corcept Therapeutics in the second quarter worth approximately $28,000. Huntington National Bank increased its stake in shares of Corcept Therapeutics by 54.0% during the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 168 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of Corcept Therapeutics by 598.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company's stock valued at $38,000 after purchasing an additional 395 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.
About Corcept Therapeutics
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
