Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $1,755,250.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.21, for a total transaction of $1,755,250.00. Following the transaction, the insider owned 8,977 shares in the company, valued at approximately $630,275.17. The trade was a 73.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, May 27th, Sean Maduck sold 75,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $65.59, for a total transaction of $4,919,250.00.

Corcept Therapeutics Trading Down 3.0%

CORT opened at $72.62 on Friday. The company’s fifty day moving average price is $51.73 and its two-hundred day moving average price is $52.15. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $91.00. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 207.49 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share 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 business had revenue of $164.90 million for the quarter, compared to analyst estimates of $185.83 million. During the same quarter in the previous year, the company posted $0.17 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently made changes to their positions in the company. Pathstone Holdings LLC grew its stake in shares of Corcept Therapeutics by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock worth $1,497,000 after acquiring an additional 144 shares in the last quarter. State of Wyoming grew its stake in shares of Corcept Therapeutics by 29.5% in the 1st 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. Clearstead Advisors LLC grew its stake in shares of Corcept Therapeutics by 163.6% in the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 193 shares in the last quarter. Gould Capital LLC grew its stake in shares of Corcept Therapeutics by 50.0% in the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 200 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Corcept Therapeutics by 3.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 247 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. Finally, HC Wainwright upped their price objective on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.