Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $1,581,600.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $79.08, for a total transaction of $1,581,600.00. Following the completion of the sale, the insider now owns 17,705 shares in the company, valued at $1,400,111.40. The trade was a 53.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, May 2nd, Sean Maduck sold 26,554 shares of Corcept Therapeutics stock. The stock was sold at an average price of $72.23, for a total transaction of $1,917,995.42.
• On Monday, March 31st, Sean Maduck sold 100,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00.

Corcept Therapeutics Stock Up 0.9%

CORT stock opened at $69.60 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $28.04 and a 52-week high of $117.33. The company’s 50 day simple moving average is $72.03 and its 200-day simple moving average is $63.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The firm has a market capitalization of $7.38 billion, a P/E ratio of 55.24 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Ratings Changes

CORT has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. HC Wainwright cut their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, April 3rd. Finally, Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $138.25.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics in the 4th quarter valued at approximately $27,000. Canada Pension Plan Investment Board acquired a new position in Corcept Therapeutics in the 4th quarter valued at approximately $40,000. National Bank of Canada FI acquired a new position in Corcept Therapeutics in the 4th quarter valued at approximately $42,000. Brooklyn Investment Group increased its stake in Corcept Therapeutics by 99.5% in the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 186 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics in the 4th quarter valued at approximately $58,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.