Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $2,860,750.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction dated 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 owned 9,755 shares of the company’s stock, valued at approximately $1,116,264.65. This trade represents a 71.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 shares were 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 shares were 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 Stock Up 2.1%

Shares of CORT stock traded up $2.37 during trading hours on Thursday, hitting $112.80. 611,080 shares of the company’s stock were exchanged, compared to its average volume of 825,680. The firm has a market cap of $12.19 billion, a P/E ratio of 268.58 and a beta of 0.45. The firm has a 50 day moving average of $103.65 and a two-hundred day moving average of $69.59. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. The firm had revenue of $256.15 million for 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%.The business’s revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

CORT has been the topic of several research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. HC Wainwright raised their price target on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. UBS Group set a $135.00 price objective on Corcept Therapeutics in a report on Thursday, May 28th. Finally, Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research note on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pathstone Holdings LLC boosted its position in shares of Corcept Therapeutics by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock valued at $1,497,000 after acquiring an additional 144 shares during the last quarter. State of Wyoming increased its position in Corcept Therapeutics by 29.5% during the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares during the last quarter. Gould Capital LLC increased its position in Corcept Therapeutics by 50.0% during the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 200 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Corcept Therapeutics by 3.7% during the fourth 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 raised its stake in Corcept Therapeutics by 3.4% during the fourth quarter. Deutsche Bank AG now owns 8,446 shares of the biotechnology company’s stock worth $294,000 after purchasing an additional 279 shares during the period. 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.