Sean Maduck Sells 25,000 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $114.43, for a total transaction of $2,860,750.00. Following the completion of the transaction, the insider directly owned 9,755 shares in the company, valued at $1,116,264.65. This represents a 71.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, August 25th, Sean Maduck sold 30,955 shares of Corcept Therapeutics stock. The shares were sold at an average price of $125.58, for a total value of $3,887,328.90.
• On Friday, August 14th, Sean Maduck sold 3,664 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.49, for a total value of $419,491.36.
• 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 value of $118,070.12.
• On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.70, for a total value of $2,328,983.50.
• On Wednesday, July 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $88.35, for a total value of $2,208,750.00.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded up $2.37 during midday trading on Thursday, reaching $112.80. The company’s stock had a trading volume of 611,080 shares, compared to its average volume of 825,680. The stock’s 50-day simple moving average is $103.65 and its 200-day simple moving average is $69.59. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $126.38. The stock has a market capitalization of $12.19 billion, a P/E ratio of 268.58 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. During the same quarter last year, the company earned $0.29 earnings per share. The company’s quarterly revenue was up 31.7% on a year-over-year basis. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CORT. Pathstone Holdings LLC grew its holdings in Corcept Therapeutics by 0.8% during the third quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock worth $1,497,000 after acquiring an additional 144 shares during the period. State of Wyoming boosted its position in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares in the last quarter. Gould Capital LLC boosted its position in Corcept Therapeutics by 50.0% in the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 200 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Corcept Therapeutics by 3.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 247 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Corcept Therapeutics by 3.4% during the 4th quarter. Deutsche Bank AG now owns 8,446 shares of the biotechnology company’s stock valued at $294,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CORT. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Piper Sandler reiterated an “overweight” rating and set a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. Truist Financial initiated coverage on shares of Corcept Therapeutics in a report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price objective on the stock. Weiss Ratings raised Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Finally, Canaccord Genuity Group raised their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

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.