Corcept Therapeutics (NASDAQ:CORT) Insider Sells $118,070.12 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 1,031 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $114.52, for a total value of $118,070.12. Following the transaction, the insider directly owned 9,755 shares in the company, valued at approximately $1,117,142.60. This represents a 9.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The stock was 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 shares were sold at an average price of $88.35, for a total transaction 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 transaction of $1,755,250.00.
• 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 Stock Performance

Shares of Corcept Therapeutics stock opened at $114.47 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $122.21. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 272.55 and a beta of 0.45. The company has a fifty day moving average of $93.34 and a 200-day moving average of $61.97.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CORT shares. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. UBS Group set a $135.00 price target on Corcept Therapeutics in a research note on Thursday, May 28th. HC Wainwright boosted their price objective on Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research note on Monday, July 27th. Finally, Piper Sandler restated an “overweight” rating and issued a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.17.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC bought a new stake in shares of Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $27,000. Larson Financial Group LLC lifted its stake in Corcept Therapeutics by 2,326.3% in the third quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 442 shares during the period. Gould Capital LLC lifted its stake in Corcept Therapeutics by 50.0% in the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 200 shares during the period. Finally, Torren Management LLC bought a new stake in Corcept Therapeutics in the fourth quarter valued at $25,000. Hedge funds and other institutional investors 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.