Corcept Therapeutics (NASDAQ:CORT) Insider Sean Maduck Sells 20,000 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $85.06, for a total transaction of $1,701,200.00. Following the completion of the transaction, the insider owned 7,904 shares in the company, valued at approximately $672,314.24. The trade was a 71.67% 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.

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

• On Tuesday, September 2nd, Sean Maduck sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.49, for a total transaction of $1,409,800.00.
• On Friday, August 1st, Sean Maduck sold 35,007 shares of Corcept Therapeutics stock. The stock was sold at an average price of $67.79, for a total transaction of $2,373,124.53.
• On Thursday, July 17th, Sean Maduck sold 4,315 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.48, for a total transaction of $317,066.20.
• On Friday, July 18th, Sean Maduck sold 473 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.44, for a total transaction of $34,737.12.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $88.15 on Friday. Corcept Therapeutics Incorporated has a 1-year low of $42.01 and a 1-year high of $117.33. The company has a 50-day moving average of $73.82 and a 200 day moving average of $72.13. The firm has a market cap of $9.29 billion, a PE ratio of 78.01 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in Corcept Therapeutics during the 2nd quarter worth approximately $28,000. Huntington National Bank raised its position in Corcept Therapeutics by 54.0% during the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after buying an additional 168 shares during the last quarter. Brooklyn Investment Group raised its position in Corcept Therapeutics by 99.5% during the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after buying an additional 186 shares during the last quarter. Employees Retirement System of Texas purchased a new position in Corcept Therapeutics during the 2nd quarter worth approximately $52,000. Finally, USA Financial Formulas purchased a new position in Corcept Therapeutics during the 2nd quarter worth approximately $56,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CORT has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Saturday, September 27th. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Piper Sandler decreased their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.25.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.