Corcept Therapeutics (NASDAQ:CORT) Insider Sells $2,858,976.36 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 24,587 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $116.28, for a total value of $2,858,976.36. Following the completion of the transaction, the insider directly owned 9,938 shares of the company’s stock, valued at approximately $1,155,590.64. This trade represents a 71.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $47,718.02.
• On Tuesday, September 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.43, for a total transaction of $2,860,750.00.
• On Tuesday, August 25th, Sean Maduck sold 30,955 shares of Corcept Therapeutics stock. The stock was 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 stock was 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 stock was sold at an average price of $114.52, for a total transaction 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.

Corcept Therapeutics Price Performance

CORT traded up $5.80 during trading on Monday, hitting $122.03. 1,004,763 shares of the stock traded hands, compared to its average volume of 1,733,962. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38. The company has a market cap of $13.19 billion, a price-to-earnings ratio of 290.55 and a beta of 0.40. The business has a 50 day moving average price of $113.94 and a 200 day moving average price of $81.87.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm had revenue of $256.15 million for the quarter, compared to the consensus estimate of $221.15 million. During the same quarter last year, the business posted $0.29 EPS. The company’s revenue was up 31.7% compared to the same quarter last year. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CORT shares. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Monday, July 27th. HC Wainwright reiterated a “buy” rating and issued a $165.00 price objective on shares of Corcept Therapeutics in a research note on Friday, September 18th. Truist Financial started coverage on shares of Corcept Therapeutics in a report on Tuesday, August 18th. They set a “buy” rating and a $164.00 target price on the stock. Zacks Research raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, September 28th. Finally, Weiss Ratings upgraded Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $138.17.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds have recently added to or reduced their stakes in CORT. BlackRock Inc. purchased a new position in shares of Corcept Therapeutics during the 2nd quarter valued at about $1,080,964,000. First Trust Advisors LP boosted its stake in Corcept Therapeutics by 213.5% in the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after buying an additional 1,480,059 shares in the last quarter. Geode Capital Management LLC grew its position in Corcept Therapeutics by 38.0% during the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after acquiring an additional 734,646 shares during the last quarter. Norges Bank purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $24,213,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Corcept Therapeutics during the second quarter worth approximately $49,185,000. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s principal commercial product is Korlym (mifepristone), a 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 had unsuccessful surgery.