Corcept Therapeutics (NASDAQ:CORT) Insider Sean Maduck Sells 25,000 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.21, for a total transaction of $1,755,250.00. Following the completion of the sale, the insider directly owned 8,977 shares in the company, valued at $630,275.17. This represents a 73.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 Price Performance

NASDAQ:CORT opened at $72.65 on Thursday. The company’s 50-day simple moving average is $50.26 and its 200 day simple moving average is $52.01. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $91.00. The firm has a market capitalization of $7.80 billion, a P/E ratio of 207.58 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The company had revenue of $164.90 million during the quarter, compared to analysts’ expectations of $185.83 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wolfe Research raised shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a report on Thursday, May 28th. Finally, Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at about $25,000. Clearstead Advisors LLC lifted its position in Corcept Therapeutics by 163.6% during the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 193 shares during the period. Hantz Financial Services Inc. lifted its position in Corcept Therapeutics by 598.5% during the third quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. Larson Financial Group LLC boosted its holdings in Corcept Therapeutics by 2,326.3% in the third quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 442 shares during the last quarter. Finally, Gould Capital LLC grew its position in Corcept Therapeutics by 50.0% in the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 200 shares during the period. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

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.