Corcept Therapeutics (NASDAQ:CORT) Insider Sells 13,159 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 13,159 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $82.25, for a total transaction of $1,082,327.75. Following the sale, the insider owned 9,938 shares of the company’s stock, valued at $817,400.50. This trade represents a 56.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, November 2nd, Sean Maduck sold 11,841 shares of Corcept Therapeutics stock. The shares were sold at an average price of $81.42, for a total value of $964,094.22.
• On Friday, October 2nd, Sean Maduck sold 24,587 shares of Corcept Therapeutics stock. The stock was 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 value 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 value 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 value of $118,070.12.

Corcept Therapeutics Stock Down 3.3%

NASDAQ CORT traded down $2.71 during trading on Wednesday, hitting $79.22. The company’s stock had a trading volume of 2,195,641 shares, compared to its average volume of 998,273. Corcept Therapeutics Incorporated has a 52 week low of $28.66 and a 52 week high of $126.38. The firm has a market cap of $8.56 billion, a P/E ratio of 64.51 and a beta of 0.54. The firm has a 50 day moving average price of $109.43 and a 200 day moving average price of $75.28.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.22. Corcept Therapeutics had a return on equity of 24.00% and a net margin of 16.53%. The company had revenue of $340.47 million during the quarter, compared to analysts’ expectations of $336.37 million. During the same period in the prior year, the business earned $0.16 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 64.0% compared to the same quarter last year. On average, equities analysts expect that Corcept Therapeutics Incorporated will post 1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CORT shares. Zacks Research cut shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Piper Sandler reissued an “overweight” rating and issued a $173.00 price target (up from $165.00) on shares of Corcept Therapeutics in a report on Wednesday. Truist Financial began coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 price target 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 objective on the stock. in a report on Monday, July 27th. Finally, Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.50.

Institutional Trading of Corcept Therapeutics

A number of hedge funds have recently modified their holdings of CORT. Alberta Investment Management Corp acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter worth approximately $9,843,000. BlackRock Inc. acquired a new position in shares of Corcept Therapeutics in the second quarter valued at $1,080,964,000. NewEdge Wealth LLC acquired a new position in shares of Corcept Therapeutics in the second quarter valued at $3,034,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Corcept Therapeutics in the second quarter valued at $2,311,000. Finally, Evanson Financial LLC bought a new position in Corcept Therapeutics in the second quarter worth $1,085,000. Institutional investors own 93.61% of the company’s stock.

Key Headlines 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

Corcept Therapeutics Company Profile

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.