Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $2,208,750.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $88.35, for a total value of $2,208,750.00. Following the sale, the insider owned 9,755 shares in the company, valued at $861,854.25. This represents a 71.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 stock was sold at an average price of $65.59, for a total transaction of $4,919,250.00.

Corcept Therapeutics Trading Down 1.2%

Shares of NASDAQ:CORT opened at $92.94 on Thursday. The firm has a market cap of $9.98 billion, a PE ratio of 265.55 and a beta of 0.47. The company has a fifty day simple moving average of $70.78 and a 200 day simple moving average of $52.44. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $94.77.

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

Institutional Investors Weigh In On Corcept Therapeutics

Institutional investors have recently modified their holdings of the business. Torren Management LLC acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $25,000. Advisory Services Network LLC acquired a new position in Corcept Therapeutics during the 3rd quarter valued at approximately $25,000. Atlas Capital Advisors Inc. acquired a new position in Corcept Therapeutics during the 4th quarter valued at approximately $31,000. State of Wyoming grew its stake in 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 buying an additional 186 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Corcept Therapeutics by 113.7% during the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after buying an additional 524 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CORT shares. Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. UBS Group set a $135.00 target price on Corcept Therapeutics in a report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. Finally, Piper Sandler boosted their price target on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $88.83.

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.