Corcept Therapeutics (NASDAQ:CORT) Insider Sean Maduck Sells 30,955 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 30,955 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $125.58, for a total value of $3,887,328.90. Following the completion of the transaction, the insider directly owned 9,755 shares in the company, valued at approximately $1,225,032.90. This represents a 76.04% decrease in their ownership of the stock. The sale 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, 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 transaction 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 transaction of $2,208,750.00.
• On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.21, for a total transaction of $1,755,250.00.

Corcept Therapeutics Stock Down 2.4%

Shares of Corcept Therapeutics stock opened at $116.93 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38. The company has a 50-day simple moving average of $100.49 and a two-hundred day simple moving average of $67.04. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 278.41 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data 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 net margin of 6.52% and a return on equity of 8.26%. The firm had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Corcept Therapeutics

Several large investors have recently made changes to their positions in CORT. Royal Bank of Canada lifted its stake in Corcept Therapeutics by 18.9% during 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 acquired a new stake in shares of Corcept Therapeutics in the 1st quarter valued at $450,000. NewEdge Advisors LLC bought a new position in shares of Corcept Therapeutics in the 1st quarter valued at $518,000. EverSource Wealth Advisors LLC increased its stake 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 valued at $106,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Corcept Therapeutics by 795.3% during the 2nd quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock worth $3,391,000 after buying an additional 41,040 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler reissued 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. Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. UBS Group set a $135.00 target price on Corcept Therapeutics in a research report on Thursday, May 28th. Weiss Ratings raised Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Finally, Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

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.