Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells 1,031 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 1,031 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $114.52, for a total transaction of $118,070.12. Following the sale, the insider directly owned 9,755 shares in the company, valued at approximately $1,117,142.60. This represents a 9.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The shares were 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 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 transaction of $4,919,250.00.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT traded up $0.32 during mid-day trading on Wednesday, hitting $112.18. The stock had a trading volume of 648,492 shares, compared to its average volume of 1,572,994. The firm has a market cap of $12.13 billion, a PE ratio of 267.10 and a beta of 0.45. The company has a 50 day moving average of $91.00 and a two-hundred day moving average of $60.63. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $122.21.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Finally, Weiss Ratings reissued 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 given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $119.17.

Institutional Trading of Corcept Therapeutics

A number of hedge funds have recently modified their holdings of CORT. Royal Bank of Canada raised its position in Corcept Therapeutics by 18.9% during the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock valued at $1,757,000 after acquiring an additional 2,444 shares in the last quarter. Amundi purchased a new stake in Corcept Therapeutics in the 1st quarter worth approximately $450,000. NewEdge Advisors LLC acquired a new stake in shares of Corcept Therapeutics during the 1st quarter worth approximately $518,000. EverSource Wealth Advisors LLC grew its stake in shares of Corcept Therapeutics by 273.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock worth $106,000 after purchasing an additional 1,055 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Corcept Therapeutics by 795.3% during the 2nd quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock valued at $3,391,000 after purchasing an additional 41,040 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.