Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $1,917,995.42 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 26,554 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $72.23, for a total value of $1,917,995.42. Following the sale, the insider now directly owns 85,622 shares of the company’s stock, valued at approximately $6,184,477.06. The trade was a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, March 31st, Sean Maduck sold 100,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $100.54, for a total value of $10,054,000.00.
• On Monday, March 3rd, Sean Maduck sold 18,303 shares of Corcept Therapeutics stock. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07.

Corcept Therapeutics Stock Performance

CORT stock opened at $73.94 on Tuesday. The firm has a market cap of $7.84 billion, a PE ratio of 58.68 and a beta of 0.22. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $65.91 and a 200-day moving average price of $60.34. Corcept Therapeutics Incorporated has a 1-year low of $23.02 and a 1-year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CORT. Black Diamond Financial LLC lifted its stake in Corcept Therapeutics by 4.0% during the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 200 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Corcept Therapeutics by 3.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company’s stock valued at $909,000 after acquiring an additional 230 shares during the last quarter. Quadrant Capital Group LLC increased its position in Corcept Therapeutics by 9.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock worth $150,000 after buying an additional 257 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in Corcept Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock worth $426,000 after acquiring an additional 268 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Corcept Therapeutics by 1.1% in the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock valued at $1,374,000 after purchasing an additional 289 shares during the period. 93.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

CORT has been the subject of a number of research analyst reports. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Truist Financial raised their price target on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. Finally, HC Wainwright boosted their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.25.

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.