Corcept Therapeutics (NASDAQ:CORT) Insider Sean Maduck Sells 1,031 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider Sean Maduck sold 1,031 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $114.52, for a total value of $118,070.12. Following the completion of the transaction, the insider owned 9,755 shares of the company’s stock, valued at $1,117,142.60. This represents a 9.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

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• 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 shares were sold at an average price of $88.35, for a total transaction of $2,208,750.00.
• 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 transaction of $4,919,250.00.

Corcept Therapeutics Stock Up 0.3%

Shares of NASDAQ:CORT opened at $112.18 on Thursday. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $122.21. The company’s fifty day simple moving average is $91.79 and its 200 day simple moving average is $61.13. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 267.10 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last announced its 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. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The firm had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. During the same period in the prior year, the business earned $0.29 EPS. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. Research analysts expect that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research note on Monday, July 27th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.17.

Read Our Latest Report on Corcept Therapeutics

Institutional Trading of Corcept Therapeutics

A number of hedge funds have recently made changes to their positions in CORT. Torren Management LLC acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $25,000. Advisory Services Network LLC bought a new position in Corcept Therapeutics during the third quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Corcept Therapeutics during the second quarter worth $27,000. Atlas Capital Advisors Inc. acquired a new position in shares of Corcept Therapeutics in the fourth quarter valued at $31,000. Finally, State of Wyoming increased its holdings in shares of Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 186 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

About Corcept Therapeutics

(Get Free Report)

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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