Corcept Therapeutics (NASDAQ:CORT) Insider Sells 413 Shares of Company Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 413 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $115.54, for a total value of $47,718.02. Following the transaction, the insider owned 9,938 shares of the company’s stock, valued at $1,148,236.52. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $2,858,976.36.
• 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 transaction 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 transaction 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 transaction 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.
• 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 value of $2,328,983.50.

Corcept Therapeutics Trading Up 5.0%

NASDAQ CORT traded up $5.80 during trading on Monday, reaching $122.03. The company’s stock had a trading volume of 1,004,763 shares, compared to its average volume of 1,733,962. The firm has a 50 day moving average price of $113.94 and a 200 day moving average price of $81.87. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $126.38. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 290.55 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT) last announced 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. 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 business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. boosted its holdings in shares of Corcept Therapeutics by 25.4% during the 2nd quarter. QRG Capital Management Inc. now owns 9,042 shares of the biotechnology company’s stock valued at $786,000 after acquiring an additional 1,834 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Corcept Therapeutics by 1.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,617 shares of the biotechnology company’s stock valued at $923,000 after purchasing an additional 184 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Corcept Therapeutics during the second quarter valued at about $645,000. Tidal Investments LLC increased its stake in shares of Corcept Therapeutics by 9.2% in the second quarter. Tidal Investments LLC now owns 24,218 shares of the biotechnology company’s stock valued at $2,106,000 after buying an additional 2,039 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in Corcept Therapeutics in the 2nd quarter valued at approximately $558,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CORT has been the subject of a number of recent analyst reports. Truist Financial started coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price target on the stock. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a report on Monday, July 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $138.17.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s principal commercial product is Korlym (mifepristone), a 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 had unsuccessful surgery.