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

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $114.43, for a total value of $2,860,750.00. Following the completion of the sale, the insider directly owned 9,755 shares of the company’s stock, valued at approximately $1,116,264.65. This represents a 71.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was 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 shares were 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 stock was 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.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $111.62 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $126.38. The firm has a 50 day moving average price of $104.13 and a 200 day moving average price of $69.89. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 265.77 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share 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 the consensus estimate of $221.15 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. Corcept Therapeutics’s revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CORT shares. HC Wainwright boosted their price target on Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Truist Financial initiated coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 price objective on the stock. Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Monday, July 27th. Piper Sandler reiterated an “overweight” rating and set a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CORT. Alberta Investment Management Corp acquired a new position in Corcept Therapeutics during the 2nd quarter worth approximately $9,843,000. NewEdge Wealth LLC purchased a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $3,034,000. BlackRock Inc. acquired a new position in shares of Corcept Therapeutics during the second quarter worth $1,080,964,000. Avidity Partners Management LP acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth $766,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at $8,757,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.