Corcept Therapeutics (NASDAQ:CORT) Insider Sells $2,858,976.36 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider Sean Maduck sold 24,587 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $116.28, for a total transaction of $2,858,976.36. Following the completion of the transaction, the insider owned 9,938 shares in the company, valued at approximately $1,155,590.64. This represents a 71.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Thursday, October 1st, Sean Maduck sold 413 shares of Corcept Therapeutics stock. The stock was sold at an average price of $115.54, for a total transaction of $47,718.02.
  • 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 0.0%

Corcept Therapeutics stock opened at $119.60 on Thursday. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 284.77 and a beta of 0.40. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $126.38. The stock’s 50 day moving average is $114.98 and its 200-day moving average is $83.08.

Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same period last year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CORT. Zacks Research raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 28th. Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research note on Monday, July 27th. Piper Sandler reissued an “overweight” rating and issued a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Finally, Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $138.17.

Read Our Latest Stock Report on CORT

Institutional Trading of Corcept Therapeutics

Several large investors have recently modified their holdings of CORT. QRG Capital Management Inc. increased its position in shares of Corcept Therapeutics by 25.4% in the second quarter. QRG Capital Management Inc. now owns 9,042 shares of the biotechnology company’s stock worth $786,000 after purchasing an additional 1,834 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Corcept Therapeutics by 1.8% in 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 bought a new stake in Corcept Therapeutics during the second quarter worth about $645,000. Tidal Investments LLC lifted its position in Corcept Therapeutics by 9.2% during the second quarter. Tidal Investments LLC now owns 24,218 shares of the biotechnology company’s stock worth $2,106,000 after purchasing an additional 2,039 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in Corcept Therapeutics during the second quarter worth about $558,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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