Corcept Therapeutics (NASDAQ:CORT) Insider Sean Maduck Sells 11,841 Shares of Company Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) 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 completion of the transaction, the insider directly owned 9,938 shares of the company’s stock, valued at approximately $809,151.96. This trade represents a 54.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, November 3rd, Sean Maduck sold 13,159 shares of Corcept Therapeutics stock. The shares were sold at an average price of $82.25, for a total value of $1,082,327.75.
• On Friday, October 2nd, Sean Maduck sold 24,587 shares of Corcept Therapeutics stock. The shares were sold at an average price of $116.28, for a total value of $2,858,976.36.
• On Thursday, October 1st, Sean Maduck sold 413 shares of Corcept Therapeutics stock. The stock was sold at an average price of $115.54, for a total value of $47,718.02.
• On Tuesday, September 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.43, for a total value of $2,860,750.00.
• 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 shares were 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 shares were sold at an average price of $114.52, for a total transaction of $118,070.12.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $79.22 on Thursday. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $126.38. The stock has a market capitalization of $8.56 billion, a P/E ratio of 64.51 and a beta of 0.54. The firm’s 50-day moving average is $109.43 and its two-hundred day moving average is $75.28.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.17. The business had revenue of $340.47 million during the quarter, compared to the consensus estimate of $339.12 million. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 24.00%. The company’s quarterly revenue was up 64.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.83 EPS for the current year.

Key Corcept Therapeutics News

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

• Positive Sentiment: Q3 revenue rose 64% year over year to $340.5 million, topping the $336.4 million consensus estimate. Earnings of $1.01 per share also beat the $0.79 estimate. Stronger Korlym sales and growing Lifyorli uptake helped drive 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, signaling confidence in the company’s prospects. Article: Piper Sandler stock recommendations
• Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has projected $3 billion to $5 billion in Cushing’s syndrome revenue by 2030. The decision and longer-term sales target could be meaningful catalysts, but depend on regulatory and commercial success. Article: Corcept’s relacorilant decision and revenue target
• Negative Sentiment: Despite the earnings and revenue beats, shares sold off as investors reacted to company guidance, which appeared to disappoint or fall short of expectations. That forward-looking concern outweighed the strong quarterly results. Article: Corcept falls on guidance despite earnings beat

Analyst Upgrades and Downgrades

Several analysts have commented on CORT shares. HC Wainwright reaffirmed a “buy” rating and issued a $165.00 target price on shares of Corcept Therapeutics in a research note on Friday, September 18th. Piper Sandler reissued an “overweight” rating and set a $173.00 price target (up from $165.00) on shares of Corcept Therapeutics in a research note on Wednesday. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a report on Monday, July 27th. Finally, Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CORT. BlackRock Inc. acquired a new stake in shares of Corcept Therapeutics in the second quarter worth approximately $1,080,964,000. First Trust Advisors LP increased its position in Corcept Therapeutics by 213.5% during the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after purchasing an additional 1,480,059 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Corcept Therapeutics during the second quarter worth approximately $49,185,000. Bank of America Corp DE acquired a new position in Corcept Therapeutics during the second quarter worth approximately $28,569,000. Finally, Legal & General Group Plc purchased a new position in Corcept Therapeutics during the second quarter worth approximately $18,962,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.