Corcept Therapeutics (NASDAQ:CORT) Insider Sean Maduck Sells 25,000 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $114.43, for a total transaction of $2,860,750.00. Following the completion of the sale, the insider owned 9,755 shares of the company’s stock, valued at approximately $1,116,264.65. The trade was a 71.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 stock was 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 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 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 stock was sold at an average price of $88.35, for a total value of $2,208,750.00.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $112.80 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $126.38. The stock has a fifty day moving average price of $103.65 and a two-hundred day moving average price of $69.59. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 268.58 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $221.15 million. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue was up 31.7% on a year-over-year basis. On average, analysts predict that Corcept Therapeutics Incorporated will post 1.77 EPS for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Alberta Investment Management Corp purchased a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $9,843,000. BlackRock Inc. purchased a new stake in Corcept Therapeutics in the 2nd quarter worth approximately $1,080,964,000. NewEdge Wealth LLC acquired a new position in Corcept Therapeutics in the 2nd quarter valued at $3,034,000. Avidity Partners Management LP acquired a new position in Corcept Therapeutics in the 4th quarter valued at $766,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth $8,757,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CORT. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. 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 report on Monday, July 27th. HC Wainwright boosted their price target on Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, UBS Group set a $135.00 price target on Corcept Therapeutics in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.17.

About Corcept Therapeutics

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.