Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells 3,664 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 3,664 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $114.49, for a total transaction of $419,491.36. Following the completion of the sale, the insider owned 9,755 shares of the company’s stock, valued at $1,116,849.95. This trade represents a 27.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 stock was sold at an average price of $88.35, for a total transaction 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 transaction 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 Stock Performance

CORT stock traded up $0.83 during midday trading on Tuesday, reaching $118.00. The stock had a trading volume of 803,104 shares, compared to its average volume of 1,550,789. The firm has a fifty day simple moving average of $94.21 and a two-hundred day simple moving average of $62.59. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $122.21. The stock has a market cap of $12.76 billion, a PE ratio of 280.96 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.34. The business had revenue of $256.15 million for the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

Analyst Ratings Changes

CORT has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Truist Financial initiated coverage on shares of Corcept Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $164.00 price objective on the stock. 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 report on Wednesday, July 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.17.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Alberta Investment Management Corp purchased a new position in Corcept Therapeutics in the second quarter valued at $9,843,000. Avidity Partners Management LP purchased a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $766,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Corcept Therapeutics during the 4th quarter valued at about $8,757,000. Norges Bank purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $24,213,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $2,021,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.