Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells 30,955 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 30,955 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $125.58, for a total value of $3,887,328.90. Following the completion of the transaction, the insider owned 9,755 shares of the company’s stock, valued at approximately $1,225,032.90. The trade was a 76.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 transaction of $118,070.12.
• On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.70, for a total transaction 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 transaction of $2,208,750.00.
• On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.21, for a total transaction of $1,755,250.00.

Corcept Therapeutics Trading Down 2.4%

CORT traded down $2.87 on Thursday, hitting $116.93. 638,562 shares of the company’s stock were exchanged, compared to its average volume of 1,520,816. The stock has a fifty day moving average of $99.75 and a two-hundred day moving average of $66.51. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38. The firm has a market cap of $12.64 billion, a PE ratio of 278.41 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.02 by $0.34. The company had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business’s revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 earnings per share. On average, analysts predict that Corcept Therapeutics Incorporated will post 1.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CORT shares. HC Wainwright increased their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Truist Financial initiated coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price target on the stock. Finally, Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $138.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Torren Management LLC acquired a new stake in Corcept Therapeutics in the fourth quarter worth approximately $25,000. Advisory Services Network LLC acquired a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Corcept Therapeutics in the 2nd quarter worth $27,000. Atlas Capital Advisors Inc. bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth $31,000. Finally, State of Wyoming lifted its holdings in shares of Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 186 shares during the period. 93.61% of the stock is currently owned by institutional investors.

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.