Corcept Therapeutics (NASDAQ:CORT) Insider Sells 20,305 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,305 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $114.70, for a total transaction of $2,328,983.50. Following the completion of the sale, the insider directly owned 9,755 shares in the company, valued at approximately $1,118,898.50. The trade was 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 the SEC website.

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 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

Shares of CORT stock traded up $0.89 during trading hours on Wednesday, hitting $110.69. The company had a trading volume of 846,836 shares, compared to its average volume of 1,598,195. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $122.21. The firm’s fifty day moving average is $86.81 and its 200 day moving average is $57.96. 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 posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.02 by $0.34. The business had revenue of $256.15 million during 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%.Corcept Therapeutics’s revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. On average, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CORT. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Wolfe Research lowered shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a report on Monday, July 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Finally, HC Wainwright boosted their price target 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 equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $119.17.

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its stake in Corcept Therapeutics by 2.5% in the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after purchasing an additional 96,763 shares in the last quarter. State Street Corp increased its stake in shares of Corcept Therapeutics by 0.5% in the fourth quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock valued at $103,915,000 after buying an additional 15,656 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Corcept Therapeutics by 38.0% in the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after buying an additional 734,646 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Corcept Therapeutics by 213.5% in the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after buying an additional 1,480,059 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Corcept Therapeutics by 34.1% in the fourth quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock valued at $55,404,000 after buying an additional 405,081 shares during the last quarter. Institutional investors 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.