Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider Sean Maduck sold 11,841 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $81.42, for a total transaction of $964,094.22. Following the completion of the transaction, the insider owned 9,938 shares of the company’s stock, valued at $809,151.96. This trade represents a 54.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Sean Maduck also recently made the following trade(s):
- On Tuesday, November 3rd, Sean Maduck sold 13,159 shares of Corcept Therapeutics stock. The shares were sold at an average price of $82.25, for a total value of $1,082,327.75.
- On Friday, October 2nd, Sean Maduck sold 24,587 shares of Corcept Therapeutics stock. The shares were sold at an average price of $116.28, for a total value of $2,858,976.36.
- 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 value of $47,718.02.
- On Tuesday, September 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.43, for a total value 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 value 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 value 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.
Corcept Therapeutics Price Performance
NASDAQ CORT traded down $2.71 on Wednesday, reaching $79.22. 2,195,641 shares of the company’s stock traded hands, compared to its average volume of 998,273. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $126.38. The stock has a 50-day simple moving average of $109.43 and a 200 day simple moving average of $75.28. The stock has a market cap of $8.56 billion, a PE ratio of 64.51 and a beta of 0.54.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. The company had revenue of $340.47 million during the quarter, compared to analysts’ expectations of $336.37 million. Corcept Therapeutics had a net margin of 16.53% and a return on equity of 24.00%. The firm’s revenue was up 64.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.83 EPS for the current year.
Institutional Investors Weigh In On Corcept Therapeutics
Large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in shares of Corcept Therapeutics by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 14,007 shares of the biotechnology company’s stock valued at $1,650,000 after acquiring an additional 178 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings 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 worth $923,000 after purchasing an additional 184 shares during the period. State of Wyoming boosted its holdings in shares of Corcept Therapeutics by 29.5% during the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares during the period. Wedmont Private Capital grew its stake in shares of Corcept Therapeutics by 6.1% in the third quarter. Wedmont Private Capital now owns 3,329 shares of the biotechnology company’s stock worth $395,000 after purchasing an additional 190 shares during the last quarter. Finally, Choreo LLC grew its stake in shares of Corcept Therapeutics by 8.0% in the third quarter. Choreo LLC now owns 4,190 shares of the biotechnology company’s stock worth $483,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CORT. Piper Sandler reaffirmed an “overweight” rating and set a $173.00 price objective (up from $165.00) on shares of Corcept Therapeutics in a research note on Wednesday. Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Truist Financial started coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They set a “buy” rating and a $164.00 target price for the company. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Finally, Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.50.
View Our Latest Analysis on Corcept Therapeutics
Key Headlines Impacting Corcept Therapeutics
Here are the key news stories impacting Corcept Therapeutics this week:
- Positive Sentiment: Q3 revenue rose 64% year over year to $340.5 million, topping the $336.4 million consensus estimate. Earnings of $1.01 per share also beat the $0.79 estimate. Stronger Korlym sales and growing Lifyorli uptake helped drive the results. Article: CORT’s Q3 Earnings Beat
- Positive Sentiment: Piper Sandler reaffirmed its “overweight” rating and raised its price target to $173 from $165, signaling confidence in the company’s prospects. Article: Piper Sandler stock recommendations
- Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has projected $3 billion to $5 billion in Cushing’s syndrome revenue by 2030. The decision and longer-term sales target could be meaningful catalysts, but depend on regulatory and commercial success. Article: Corcept’s relacorilant decision and revenue target
- Negative Sentiment: Despite the earnings and revenue beats, shares sold off as investors reacted to company guidance, which appeared to disappoint or fall short of expectations. That forward-looking concern outweighed the strong quarterly results. Article: Corcept falls on guidance despite earnings beat
About Corcept Therapeutics
Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.
Corcept’s primary marketed product is Korlym (mifepristone), an oral 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 not responded adequately to surgery.
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