Corcept Therapeutics (NASDAQ:CORT) Insider Sells $2,208,750.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $88.35, for a total value of $2,208,750.00. Following the completion of the sale, the insider owned 9,755 shares in the company, valued at approximately $861,854.25. The trade was a 71.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were 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 Up 1.6%

Shares of NASDAQ:CORT traded up $1.40 during midday trading on Monday, reaching $91.61. 1,171,678 shares of the company traded hands, compared to its average volume of 1,635,013. The firm’s fifty day moving average price is $67.96 and its two-hundred day moving average price is $52.20. The firm has a market capitalization of $9.83 billion, a price-to-earnings ratio of 261.75 and a beta of 0.47. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $92.83.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The firm had revenue of $164.90 million during the quarter, compared to analysts’ expectations of $185.83 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts forecast that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CORT. Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Piper Sandler raised their price target on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.