Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $47,718.02 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 413 shares of Corcept Therapeutics stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $115.54, for a total transaction of $47,718.02. Following the completion of the transaction, the insider directly owned 9,938 shares of the company’s stock, valued at $1,148,236.52. The trade was a 3.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, October 2nd, Sean Maduck sold 24,587 shares of Corcept Therapeutics stock. The stock was sold at an average price of $116.28, for a total transaction of $2,858,976.36.
• On Tuesday, September 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.43, for a total value of $2,860,750.00.
• On Tuesday, August 25th, Sean Maduck sold 30,955 shares of Corcept Therapeutics stock. The stock was 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 stock was 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.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $119.60 on Thursday. The stock has a market capitalization of $12.93 billion, a PE ratio of 284.77 and a beta of 0.40. The business has a 50 day simple moving average of $114.98 and a 200-day simple moving average of $83.08. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month 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. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. During the same quarter last year, the firm posted $0.29 EPS. The business’s revenue was up 31.7% on a year-over-year basis. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CORT. Canaccord Genuity Group lifted their target price on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Piper Sandler restated an “overweight” rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. HC Wainwright restated a “buy” rating and set a $165.00 price target on shares of Corcept Therapeutics in a research report on Friday, September 18th. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Finally, Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.17.

Institutional Trading of Corcept Therapeutics

Several large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Corcept Therapeutics during the 2nd quarter worth approximately $1,080,964,000. Parallel Advisors LLC increased its holdings in shares of Corcept Therapeutics by 2.5% in the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock valued at $160,329,000 after purchasing an additional 96,763 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Corcept Therapeutics by 38.0% in the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after purchasing an additional 734,646 shares during the last quarter. First Trust Advisors LP lifted its position in Corcept Therapeutics by 213.5% during the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after buying an additional 1,480,059 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Corcept Therapeutics during the second quarter worth approximately $49,185,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.