Sean Maduck Sells 4,315 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 4,315 shares of the firm’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $73.48, for a total value of $317,066.20. Following the transaction, the insider owned 17,705 shares of the company’s stock, valued at $1,300,963.40. This represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, July 18th, Sean Maduck sold 473 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.44, for a total value of $34,737.12.
• On Tuesday, July 1st, Sean Maduck sold 205 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.45, for a total value of $15,057.25.
• On Monday, June 2nd, Sean Maduck sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $79.08, for a total transaction of $1,581,600.00.
• On Friday, May 2nd, Sean Maduck sold 26,554 shares of Corcept Therapeutics stock. The shares were sold at an average price of $72.23, for a total value of $1,917,995.42.

Corcept Therapeutics Trading Down 1.0%

NASDAQ CORT opened at $68.39 on Thursday. The company has a fifty day simple moving average of $72.63 and a two-hundred day simple moving average of $67.50. The stock has a market cap of $7.25 billion, a P/E ratio of 58.96 and a beta of 0.15. Corcept Therapeutics Incorporated has a 12-month low of $32.33 and a 12-month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $157.21 million for the quarter, compared to the consensus estimate of $177.93 million. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently modified their holdings of CORT. Public Employees Retirement System of Ohio boosted its position in shares of Corcept Therapeutics by 269.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 2,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth about $331,000. JPMorgan Chase & Co. boosted its position in shares of Corcept Therapeutics by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company’s stock worth $13,096,000 after acquiring an additional 6,832 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth about $355,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth about $384,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Canaccord Genuity Group upped their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Finally, HC Wainwright reduced their price target on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.25.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.