Corcept Therapeutics (NASDAQ:CORT) Insider Sean Maduck Sells 3,664 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 3,664 shares of Corcept Therapeutics stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $114.49, for a total value of $419,491.36. Following the completion of the transaction, the insider directly owned 9,755 shares of the company’s stock, valued at approximately $1,116,849.95. This trade represents a 27.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 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 value of $2,328,983.50.
• On Wednesday, July 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $88.35, for a total value 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 value 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 value of $4,919,250.00.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $118.10 on Wednesday. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 281.20 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $122.21. The stock’s 50 day moving average price is $95.03 and its two-hundred day moving average price is $63.09.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. During the same quarter in the previous year, the business posted $0.29 EPS. Corcept Therapeutics’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research note on Monday, July 27th. Truist Financial initiated coverage on Corcept Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $164.00 target price for the company. Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. Finally, HC Wainwright increased their price target on Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Torren Management LLC bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $25,000. Advisory Services Network LLC bought a new position in Corcept Therapeutics in the 3rd quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Corcept Therapeutics during the 2nd quarter valued at about $27,000. Atlas Capital Advisors Inc. acquired a new position in Corcept Therapeutics during the 4th quarter valued at about $31,000. Finally, State of Wyoming increased its holdings in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

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.