Corcept Therapeutics (NASDAQ:CORT) Insider Sean Maduck Sells 11,841 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 11,841 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $81.42, for a total value of $964,094.22. Following the completion of the sale, the insider owned 9,938 shares in the company, valued at approximately $809,151.96. This represents a 54.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, November 3rd, Sean Maduck sold 13,159 shares of Corcept Therapeutics stock. The shares were sold at an average price of $82.25, for a total value of $1,082,327.75.
• On Friday, October 2nd, Sean Maduck sold 24,587 shares of Corcept Therapeutics stock. The shares were sold at an average price of $116.28, for a total value of $2,858,976.36.
• On Thursday, October 1st, Sean Maduck sold 413 shares of Corcept Therapeutics stock. The stock was sold at an average price of $115.54, for a total value of $47,718.02.
• On Tuesday, September 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was 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 shares were sold at an average price of $125.58, for a total transaction of $3,887,328.90.
• On Friday, August 14th, Sean Maduck sold 3,664 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.49, for a total transaction of $419,491.36.
• On Monday, August 10th, Sean Maduck sold 1,031 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.52, for a total transaction of $118,070.12.

Corcept Therapeutics Trading Down 3.3%

NASDAQ CORT traded down $2.71 during trading on Wednesday, hitting $79.22. The company had a trading volume of 2,195,641 shares, compared to its average volume of 998,273. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $126.38. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 64.51 and a beta of 0.54. The company’s fifty day moving average is $109.43 and its 200-day moving average is $75.28.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. The firm had revenue of $340.47 million for the quarter, compared to analyst estimates of $336.37 million. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 24.00%. The company’s revenue for the quarter was up 64.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.83 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on CORT. Weiss Ratings upgraded shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a report on Monday, July 27th. Piper Sandler reissued an “overweight” rating and issued a $173.00 target price (up from $165.00) on shares of Corcept Therapeutics in a research report on Wednesday. Finally, Zacks Research cut Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.50.

Key Stories Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Q3 revenue rose 64% year over year to $340.5 million, topping the $336.4 million consensus estimate. Earnings of $1.01 per share also beat the $0.79 estimate. Stronger Korlym sales and growing Lifyorli uptake helped drive the results. Article: CORT’s Q3 Earnings Beat
• Positive Sentiment: Piper Sandler reaffirmed its “overweight” rating and raised its price target to $173 from $165, signaling confidence in the company’s prospects. Article: Piper Sandler stock recommendations
• Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has projected $3 billion to $5 billion in Cushing’s syndrome revenue by 2030. The decision and longer-term sales target could be meaningful catalysts, but depend on regulatory and commercial success. Article: Corcept’s relacorilant decision and revenue target
• Negative Sentiment: Despite the earnings and revenue beats, shares sold off as investors reacted to company guidance, which appeared to disappoint or fall short of expectations. That forward-looking concern outweighed the strong quarterly results. Article: Corcept falls on guidance despite earnings beat

Institutional Trading of Corcept Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Corcept Therapeutics in the 2nd quarter worth about $27,000. Provenance Wealth Advisors LLC purchased a new position in Corcept Therapeutics during the 3rd quarter valued at about $38,000. Fulcrum Asset Management LLP boosted its stake in Corcept Therapeutics by 520.7% during the third quarter. Fulcrum Asset Management LLP now owns 571 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 479 shares in the last quarter. Root Financial Partners LLC bought a new stake in Corcept Therapeutics during the third quarter worth about $85,000. Finally, State of Wyoming boosted its stake in Corcept Therapeutics by 29.5% during the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 186 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

About Corcept Therapeutics

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral 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 not responded adequately to surgery.