Sean Maduck Sells 1,031 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 1,031 shares of Corcept Therapeutics stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $114.52, for a total value of $118,070.12. Following the completion of the sale, the insider owned 9,755 shares of the company’s stock, valued at $1,117,142.60. The trade was a 9.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction 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 transaction of $2,208,750.00.
• On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were 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 transaction of $4,919,250.00.

Corcept Therapeutics Trading Up 0.3%

Shares of CORT traded up $0.32 during mid-day trading on Wednesday, hitting $112.18. The company’s stock had a trading volume of 648,492 shares, compared to its average volume of 1,572,994. The company’s 50-day moving average is $91.00 and its 200-day moving average is $60.63. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $122.21. The firm has a market capitalization of $12.13 billion, a price-to-earnings ratio of 267.10 and a beta of 0.45.

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

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Evolve Private Wealth LLC purchased a new position in Corcept Therapeutics during the 2nd quarter worth $226,000. Westpac Banking Corp purchased a new stake in Corcept Therapeutics in the second quarter valued at about $138,000. EP Wealth Advisors LLC purchased a new stake in Corcept Therapeutics in the second quarter valued at about $422,000. Ieq Capital LLC acquired a new stake in Corcept Therapeutics in the second quarter worth about $8,034,000. Finally, Allworth Financial LP acquired a new stake in Corcept Therapeutics in the second quarter worth about $338,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CORT. Piper Sandler restated 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. UBS Group set a $135.00 target price on Corcept Therapeutics in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $119.17.

About Corcept Therapeutics

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.