Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $10,054,000.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 100,000 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the sale, the insider now directly owns 85,622 shares of the company’s stock, valued at $8,608,435.88. This represents a 53.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sean Maduck also recently made the following trade(s):

• On Monday, March 3rd, Sean Maduck sold 18,303 shares of Corcept Therapeutics stock. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07.

Corcept Therapeutics Stock Down 6.2 %

NASDAQ CORT opened at $74.45 on Friday. The business’s fifty day simple moving average is $64.81 and its 200-day simple moving average is $56.40. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a market cap of $7.85 billion, a PE ratio of 59.09 and a beta of 0.14. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million for the quarter, compared to analysts’ expectations of $200.12 million. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CORT. Kestra Investment Management LLC purchased a new stake in Corcept Therapeutics in the fourth quarter valued at $27,000. Canada Pension Plan Investment Board purchased a new stake in Corcept Therapeutics in the 4th quarter valued at about $40,000. National Bank of Canada FI acquired a new position in Corcept Therapeutics in the fourth quarter valued at about $42,000. USA Financial Formulas purchased a new position in Corcept Therapeutics during the fourth quarter worth about $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics during the fourth quarter worth about $58,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CORT has been the topic of several research reports. Piper Sandler raised their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday. Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Truist Financial lifted their target price on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. HC Wainwright increased their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 31st. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $143.25.

Corcept Therapeutics Company Profile

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.