Corcept Therapeutics (NASDAQ:CORT) Stock Price Crosses Below 200 Day Moving Average on Insider Selling

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) crossed below its 200-day moving average during trading on Thursday following insider selling activity. The stock has a 200-day moving average of $75.47 and traded as low as $71.52. Corcept Therapeutics shares last traded at $71.63, with a volume of 1,507,614 shares traded.

Specifically, insider Roberto Vieira sold 8,333 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $80.89, for a total value of $674,056.37. Following the completion of the transaction, the insider directly owned 3,946 shares of the company’s stock, valued at approximately $319,191.94. This represents a 67.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sean Maduck sold 13,159 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $82.25, for a total value of $1,082,327.75. Following the transaction, the insider owned 9,938 shares of the company’s stock, valued at $817,400.50. This trade represents a 56.97% decrease in their position. The SEC filing for this sale provides additional information. In related news, insider Sean Maduck sold 11,841 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $81.42, for a total value of $964,094.22. Following the sale, the insider owned 9,938 shares of the company’s stock, valued at $809,151.96. The trade was a 54.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CORT. Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research report 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. Zacks Research downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Truist Financial assumed coverage on shares of Corcept Therapeutics in a research note on Tuesday, August 18th. They issued a “buy” rating and a $164.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $165.00 target price on shares of Corcept Therapeutics in a report on Friday, September 18th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.50.

More Corcept Therapeutics News

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Third-quarter revenue climbed 64% year over year to about $340.5 million, while earnings of $1.01 per share beat estimates. Higher Korlym sales and growing Lifyorli uptake contributed to the results. Article: CORT’s Q3 Earnings Beat
• Positive Sentiment: Piper Sandler reaffirmed its “overweight” rating and raised its price target to $173 from $165. Article: Piper Sandler rating
• Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has outlined a long-term opportunity of $3 billion to $5 billion in Cushing’s revenue by 2030; both depend on regulatory and commercial success. Article: Relacorilant decision and revenue target
• Negative Sentiment: Shares have faced pressure despite the earnings beat as investors focused on company guidance. HC Wainwright also lowered its Q1 2027 EPS estimate to $0.60 from $0.74, although it kept a Buy rating and $165 price target. Article: Shares fall on guidance
• Negative Sentiment: Two insiders reported sizable sales: Roberto Vieira sold 8,333 shares, reducing his position by about 68%, while Sean Maduck sold shares in two transactions that cut his holdings by more than half. Insider sales can raise concerns, though they do not necessarily indicate a change in company prospects. Article: Corcept insider sale

Corcept Therapeutics Price Performance

The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 56.40 and a beta of 0.54. The stock has a 50 day moving average price of $108.46 and a two-hundred day moving average price of $75.47.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.17. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 22.56%. The business had revenue of $340.47 million for the quarter, compared to the consensus estimate of $339.12 million. During the same quarter in the prior year, the company earned $0.16 EPS. The firm’s quarterly revenue was up 64.0% on a year-over-year basis. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Corcept Therapeutics in the 2nd quarter valued at approximately $27,000. Provenance Wealth Advisors LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $38,000. Fulcrum Asset Management LLP boosted its position in Corcept Therapeutics by 520.7% during the 3rd quarter. Fulcrum Asset Management LLP now owns 571 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 479 shares during the last quarter. Root Financial Partners LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $85,000. Finally, State of Wyoming grew its stake in shares of Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 186 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

About Corcept Therapeutics

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.