Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $1,007,800.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the sale, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $51.69 on Thursday. The business’s fifty day simple moving average is $54.69 and its 200 day simple moving average is $43.77. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $62.22. The firm has a market capitalization of $5.42 billion, a P/E ratio of 41.02 and a beta of 0.56.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. During the same period in the previous year, the firm earned $0.28 EPS. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CORT shares. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Piper Sandler lifted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Truist Financial increased their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $65.25.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics during the third quarter valued at $25,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $36,000. GAMMA Investing LLC grew its stake in shares of Corcept Therapeutics by 85.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,147 shares during the period. KBC Group NV increased its holdings in Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 496 shares during the last quarter. Finally, AA Financial Advisors LLC bought a new stake in Corcept Therapeutics in the 3rd quarter valued at about $231,000. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.