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

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

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 shares were 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 shares were 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 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 stock was sold at an average price of $114.52, for a total value of $118,070.12.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $79.22 on Thursday. The stock has a fifty day moving average price of $109.43 and a 200 day moving average price of $75.28. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $126.38. The company has a market cap of $8.56 billion, a PE ratio of 64.51 and a beta of 0.54.

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 analysts’ consensus estimates of $0.84 by $0.17. The firm had revenue of $340.47 million for the quarter, compared to analyst estimates of $339.12 million. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 24.00%. Corcept Therapeutics’s quarterly revenue was up 64.0% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $165.00 target price on shares of Corcept Therapeutics in a report on Friday, September 18th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Zacks Research downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Wolfe Research lowered 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, Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CORT. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Corcept Therapeutics in the second quarter valued at $27,000. Provenance Wealth Advisors LLC purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter worth about $38,000. Fulcrum Asset Management LLP boosted its position in shares of Corcept Therapeutics by 520.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 571 shares of the biotechnology company’s stock worth $66,000 after buying an additional 479 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter worth about $85,000. Finally, State of Wyoming grew its stake in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 186 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Key Corcept Therapeutics News

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.