Sean Maduck Sells 1,031 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 1,031 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $114.52, for a total transaction of $118,070.12. Following the sale, the insider directly owned 9,755 shares of the company’s stock, valued at approximately $1,117,142.60. This represents a 9.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.70, for a total transaction of $2,328,983.50.
• On Wednesday, July 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $88.35, for a total value of $2,208,750.00.
• On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.21, for a total value of $1,755,250.00.
• On Wednesday, May 27th, Sean Maduck sold 75,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $65.59, for a total value of $4,919,250.00.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $110.51 on Friday. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $122.21. The company has a market cap of $11.95 billion, a price-to-earnings ratio of 263.13 and a beta of 0.45. The business’s 50 day moving average price is $92.50 and its 200 day moving average price is $61.60.

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, 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 company had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same period in the prior year, the business earned $0.29 EPS. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. On average, analysts predict that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

Institutional Trading of Corcept Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CORT. BlackRock Inc. acquired a new stake in shares of Corcept Therapeutics during the second quarter valued at about $1,080,964,000. First Trust Advisors LP raised its stake in shares of Corcept Therapeutics by 213.5% in the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after acquiring an additional 1,480,059 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Corcept Therapeutics by 546.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after acquiring an additional 1,274,215 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Corcept Therapeutics by 38.0% in the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock worth $92,892,000 after acquiring an additional 734,646 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $24,213,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CORT has been the subject of several recent analyst reports. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, May 28th. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.17.

About Corcept Therapeutics

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.