Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sean Maduck Sells 26,554 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 26,554 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $72.23, for a total transaction of $1,917,995.42. Following the completion of the sale, the insider now directly owns 85,622 shares in the company, valued at approximately $6,184,477.06. This represents a 23.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, March 31st, Sean Maduck sold 100,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00.
• On Monday, March 3rd, Sean Maduck sold 18,303 shares of Corcept Therapeutics stock. The shares were sold at an average price of $60.69, for a total value of $1,110,809.07.

Corcept Therapeutics Stock Performance

CORT stock opened at $70.91 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a 1-year low of $23.61 and a 1-year high of $117.33. The business has a 50-day moving average price of $66.14 and a 200 day moving average price of $60.41. The company has a market capitalization of $7.52 billion, a P/E ratio of 56.28 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $157.21 million during the quarter, compared to analysts’ expectations of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 EPS. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CORT. StockNews.com raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial lifted their target price on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. HC Wainwright decreased their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $142.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Black Diamond Financial LLC grew its holdings in Corcept Therapeutics by 4.0% in the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock worth $262,000 after purchasing an additional 200 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Corcept Therapeutics by 3.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company’s stock worth $909,000 after purchasing an additional 230 shares during the period. Quadrant Capital Group LLC grew its holdings in Corcept Therapeutics by 9.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 257 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Corcept Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock valued at $426,000 after purchasing an additional 268 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Corcept Therapeutics by 1.1% in the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock valued at $1,374,000 after buying an additional 289 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

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.