Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $2,328,983.50 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,305 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $114.70, for a total value 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. This represents a 67.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value 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 value 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 Trading Up 2.6%

NASDAQ CORT opened at $110.77 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $122.21. The stock has a market cap of $11.97 billion, a P/E ratio of 263.74 and a beta of 0.45. The stock’s fifty day moving average price is $89.31 and its 200-day moving average price is $59.37.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a report on Monday, July 27th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research report on Thursday, May 28th. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, HC Wainwright increased their target price on Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One 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 issued a Sell rating to the stock. According to MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $119.17.

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Torren Management LLC purchased a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in Corcept Therapeutics in the third quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Corcept Therapeutics in the 2nd quarter worth approximately $27,000. Atlas Capital Advisors Inc. bought a new stake in Corcept Therapeutics in the 4th quarter worth approximately $31,000. Finally, State of Wyoming raised its stake in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 186 shares during the last quarter. Hedge funds and other 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.