Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $1,581,600.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $79.08, for a total transaction of $1,581,600.00. Following the completion of the sale, the insider now directly owns 17,705 shares of the company’s stock, valued at $1,400,111.40. This represents a 53.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, May 2nd, Sean Maduck sold 26,554 shares of Corcept Therapeutics stock. The stock was sold at an average price of $72.23, for a total transaction of $1,917,995.42.
• 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.

Corcept Therapeutics Trading Up 0.9%

Shares of CORT stock opened at $69.60 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $28.04 and a 52-week high of $117.33. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 55.24 and a beta of 0.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a fifty day moving average of $72.03 and a 200-day moving average of $63.83.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The company 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 business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on CORT shares. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. Canaccord Genuity Group upped their price objective 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, May 6th. Finally, Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.25.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $42,055,000. Jupiter Asset Management Ltd. grew its holdings in Corcept Therapeutics by 8,176.0% during the first quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company’s stock valued at $68,978,000 after purchasing an additional 596,606 shares during the period. Invesco Ltd. grew its holdings in Corcept Therapeutics by 76.5% during the first quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company’s stock valued at $142,345,000 after purchasing an additional 540,101 shares during the period. GAMMA Investing LLC grew its holdings in Corcept Therapeutics by 12,888.9% during the first quarter. GAMMA Investing LLC now owns 389,148 shares of the biotechnology company’s stock valued at $44,448,000 after purchasing an additional 386,152 shares during the period. Finally, Nuveen LLC acquired a new position in Corcept Therapeutics during the first quarter valued at approximately $35,580,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.