Key Points
- Insider Joseph Douglas Lyon sold 1,540 Corcept Therapeutics shares at an average price of $114.16, generating $175,806.40 and reducing his direct ownership by 21.89% to 5,495 shares.
- Corcept reported quarterly EPS of $0.36, surpassing the $0.02 consensus estimate, while revenue rose 31.7% year over year to $256.15 million.
- The stock was trading near its 12-month high, with analysts maintaining a “Moderate Buy” consensus and an average price target of $119.17, although ratings ranged from “Strong Buy” to “Sell.”
Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Joseph Douglas Lyon sold 1,540 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $114.16, for a total transaction of $175,806.40. Following the completion of the transaction, the insider directly owned 5,495 shares in the company, valued at approximately $627,309.20. This represents a 21.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
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 stock was sold at an average price of $65.00, for a total value of $325,000.00.
Corcept Therapeutics Trading Up 0.8%
Corcept Therapeutics stock opened at $110.69 on Thursday. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $122.21. The stock's 50 day moving average is $87.69 and its 200-day moving average is $58.49. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 263.55 and a beta of 0.45.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. During the same period in the previous year, the company posted $0.29 EPS. The firm's quarterly revenue was up 31.7% on a year-over-year basis. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
CORT has been the subject of several analyst reports. Zacks Research upgraded shares of Corcept Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th. HC Wainwright boosted their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Wolfe Research cut Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 target price for the company. in a research note on Monday, July 27th. Wall Street Zen raised Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 1st. Finally, UBS Group set a $135.00 price target on Corcept Therapeutics in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $119.17.
View Our Latest Research Report on CORT
Hedge Funds Weigh In On Corcept Therapeutics
A number of institutional investors have recently added to or reduced their stakes in CORT. Pathstone Holdings LLC increased its holdings in Corcept Therapeutics by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company's stock worth $1,497,000 after purchasing an additional 144 shares in the last quarter. State of Wyoming increased its stake in shares of Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock valued at $33,000 after buying an additional 186 shares during the period. Gould Capital LLC increased its stake in shares of Corcept Therapeutics by 50.0% in the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company's stock valued at $50,000 after buying an additional 200 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Corcept Therapeutics by 3.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company's stock worth $240,000 after acquiring an additional 247 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Corcept Therapeutics by 3.0% during the fourth quarter. Evergreen Capital Management LLC now owns 8,609 shares of the biotechnology company's stock worth $300,000 after acquiring an additional 248 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.
Corcept Therapeutics Company Profile
(
Get Free Report)
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.
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