Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider Sean Maduck sold 25,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $88.35, for a total value of $2,208,750.00. Following the completion of the sale, the insider owned 9,755 shares of the company’s stock, valued at approximately $861,854.25. The trade was a 71.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Sean Maduck also recently made the following trade(s):
- 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.
- On Wednesday, May 27th, Sean Maduck sold 75,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $65.59, for a total value of $4,919,250.00.
Corcept Therapeutics Stock Up 1.6%
Corcept Therapeutics stock traded up $1.40 during mid-day trading on Monday, hitting $91.61. 1,171,678 shares of the company’s stock were exchanged, compared to its average volume of 1,635,013. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $92.83. The company’s 50 day simple moving average is $67.96 and its 200-day simple moving average is $52.20. The firm has a market capitalization of $9.83 billion, a P/E ratio of 261.75 and a beta of 0.47.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CORT. Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. UBS Group set a $135.00 target price on Corcept Therapeutics in a report on Thursday, May 28th. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.83.
Get Our Latest Stock Report on Corcept Therapeutics
Institutional Investors Weigh In On Corcept Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its position in shares of Corcept Therapeutics by 56.8% during the first quarter. Pacer Advisors Inc. now owns 3,184 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 1,154 shares during the last quarter. FAS Wealth Partners Inc. lifted its position in shares of Corcept Therapeutics by 4.0% during the 1st quarter. FAS Wealth Partners Inc. now owns 322,370 shares of the biotechnology company’s stock worth $12,995,000 after buying an additional 12,352 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Corcept Therapeutics by 2.5% in the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock valued at $160,329,000 after acquiring an additional 96,763 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Corcept Therapeutics by 727.2% during the first quarter. NewEdge Advisors LLC now owns 9,364 shares of the biotechnology company’s stock worth $377,000 after acquiring an additional 8,232 shares during the period. Finally, Perceptive Advisors LLC purchased a new position in Corcept Therapeutics in the first quarter worth $2,016,000. 93.61% of the stock is owned by institutional investors.
Corcept Therapeutics Company Profile
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.
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