Street Calls of the Week
Joseph Douglas Lyon, the Chief Accounting & Technology Officer of Corcept Therapeutics Inc. (NASDAQ:CORT), recently executed a series of stock transactions. On March 24, Lyon sold 421 shares of the company’s common stock at a price of $60.58 per share, totaling $25,504. This transaction was conducted under a pre-established 10b5-1 trading plan.
Additionally, Lyon exercised stock options to acquire 421 shares at a price of $13.56 per share. Following these transactions, Lyon holds 9,009 shares directly, which includes various unvested restricted stock awards. The transactions reflect Lyon’s ongoing management of his equity holdings in Corcept Therapeutics.
In other recent news, Corcept Therapeutics reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company posted an EPS of $0.26, missing the forecasted $0.38, and reported revenue of $181.89 million, below the anticipated $198.05 million. Despite these quarterly results, Corcept achieved a 40% year-over-year increase in 2024 revenue, totaling $675 million, with net income rising by 33% to $141 million. The company maintains a robust cash reserve of $603 million as of the end of 2024.
Corcept is also advancing its New Drug Application (NDA) for relacorilant, a treatment for Cushing’s syndrome, with the FDA setting a PDUFA target action date of December 30, 2025. The NDA is supported by successful trial results, and the company is optimistic about its approval. Additionally, Corcept is expanding its research into oncology and other fields, with ongoing studies in ovarian cancer and other serious conditions. Analysts from firms like Piper Sandler have shown interest in the company’s strategic developments and trial progress.
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