Corcept Therapeutics (NASDAQ:CORT) Insider Sells $419,491.36 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 3,664 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $114.49, for a total value of $419,491.36. Following the completion of the transaction, the insider directly owned 9,755 shares of the company’s stock, valued at approximately $1,116,849.95. The trade was a 27.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, August 10th, Sean Maduck sold 1,031 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.52, for a total value of $118,070.12.
• On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.70, for a total value 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 transaction of $2,208,750.00.
• On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.21, for a total transaction 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 transaction of $4,919,250.00.

Corcept Therapeutics Stock Up 1.7%

Shares of Corcept Therapeutics stock opened at $121.05 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $122.21. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 288.22 and a beta of 0.45. The company’s fifty day moving average is $96.60 and its 200 day moving average is $64.19.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.34. The business had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.Corcept Therapeutics’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the company earned $0.29 EPS. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on CORT shares. Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Piper Sandler reiterated an “overweight” rating and set a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Finally, Truist Financial assumed coverage on shares of Corcept Therapeutics in a research note on Tuesday. They set a “buy” rating and a $164.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and an average price target of $138.17.

Institutional Investors Weigh In On Corcept Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC increased its position in shares of Corcept Therapeutics by 0.8% during the third quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock worth $1,497,000 after acquiring an additional 144 shares in the last quarter. State of Wyoming lifted its position in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 186 shares in the last quarter. Gould Capital LLC boosted its stake in Corcept Therapeutics by 50.0% during the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 200 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Corcept Therapeutics by 3.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 247 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Corcept Therapeutics by 3.0% during the 4th quarter. Evergreen Capital Management LLC now owns 8,609 shares of the biotechnology company’s stock worth $300,000 after purchasing an additional 248 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.