Corcept Therapeutics (NASDAQ:CORT) Insider Sean Maduck Sells 20,305 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,305 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $114.70, for a total value of $2,328,983.50. Following the completion of the transaction, the insider directly owned 9,755 shares in the company, valued at approximately $1,118,898.50. This trade represents a 67.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, July 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $88.35, for a total value of $2,208,750.00.
• On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was 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 shares were sold at an average price of $65.59, for a total value of $4,919,250.00.

Corcept Therapeutics Trading Up 0.8%

NASDAQ:CORT opened at $110.69 on Thursday. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $122.21. The business’s 50-day moving average price is $87.69 and its two-hundred day moving average price is $58.49. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 263.55 and a beta of 0.45.

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, topping analysts’ consensus estimates of $0.02 by $0.34. The firm had revenue of $256.15 million for the quarter, compared to analysts’ expectations of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company’s revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. Sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in Corcept Therapeutics by 213.5% during the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after buying an additional 1,480,059 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Corcept Therapeutics by 546.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock valued at $125,264,000 after acquiring an additional 1,274,215 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Corcept Therapeutics by 38.0% in the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after acquiring an additional 734,646 shares in the last quarter. Norges Bank acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $24,213,000. Finally, UBS Group AG increased its position in shares of Corcept Therapeutics by 413.8% in the third quarter. UBS Group AG now owns 549,938 shares of the biotechnology company’s stock valued at $45,705,000 after acquiring an additional 442,898 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Monday, July 27th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a report on Thursday, May 28th. Finally, HC Wainwright upped their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.17.

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.