Corcept Therapeutics (NASDAQ:CORT) Insider Sells $2,860,750.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $114.43, for a total value of $2,860,750.00. Following the sale, the insider owned 9,755 shares in the company, valued at approximately $1,116,264.65. This represents a 71.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Tuesday, August 25th, Sean Maduck sold 30,955 shares of Corcept Therapeutics stock. The shares were sold at an average price of $125.58, for a total transaction of $3,887,328.90.
• On Friday, August 14th, Sean Maduck sold 3,664 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.49, for a total transaction of $419,491.36.
• On Monday, August 10th, Sean Maduck sold 1,031 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.52, for a total transaction 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 transaction of $2,328,983.50.
• On Wednesday, July 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $88.35, for a total transaction of $2,208,750.00.

Corcept Therapeutics Price Performance

Shares of CORT opened at $111.62 on Friday. The company has a market cap of $12.07 billion, a PE ratio of 265.77 and a beta of 0.45. The firm has a 50-day moving average of $104.13 and a 200-day moving average of $69.89. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $126.38.

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 analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company had revenue of $256.15 million for the quarter, compared to analysts’ expectations of $221.15 million. During the same period in the prior year, the firm earned $0.29 EPS. Corcept Therapeutics’s quarterly revenue was up 31.7% compared to the same quarter last year. Analysts expect that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current year.

Institutional Trading of Corcept Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in Corcept Therapeutics during the 3rd quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Corcept Therapeutics during the second quarter worth $27,000. Larson Financial Group LLC boosted its position in shares of Corcept Therapeutics by 2,326.3% in the third quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 442 shares during the period. Gould Capital LLC boosted its position in shares of Corcept Therapeutics by 50.0% in the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after acquiring an additional 200 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Corcept Therapeutics by 128.5% in the third quarter. CIBC Private Wealth Group LLC now owns 770 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 433 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CORT has been the subject of several research reports. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, May 28th. Canaccord Genuity Group raised their target price on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $138.17.

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.