Corcept Therapeutics (NASDAQ:CORT) Insider Sells 3,664 Shares of Stock

by · The Markets Daily

Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider Sean Maduck sold 3,664 shares of Corcept Therapeutics stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $114.49, for a total transaction of $419,491.36. Following the sale, the insider owned 9,755 shares of the company’s stock, valued at $1,116,849.95. The trade was a 27.30% decrease in their position. The sale 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 Monday, August 10th, Sean Maduck sold 1,031 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.52, for a total transaction of $118,070.12.
  • 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 stock was 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 shares were sold at an average price of $65.59, for a total value of $4,919,250.00.

Corcept Therapeutics Stock Up 0.7%

NASDAQ:CORT traded up $0.83 during midday trading on Tuesday, hitting $118.00. The stock had a trading volume of 803,104 shares, compared to its average volume of 1,550,789. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $122.21. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 280.96 and a beta of 0.45. The stock has a 50-day moving average of $94.21 and a 200 day moving average of $62.59.

Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last issued its 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 in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CORT shares. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. Finally, HC Wainwright lifted their price target on Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and an average price target of $138.17.

Check Out Our Latest Report on Corcept Therapeutics

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Corcept Therapeutics during the 2nd quarter valued at $1,080,964,000. Parallel Advisors LLC grew its stake in Corcept Therapeutics by 2.5% during the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after buying an additional 96,763 shares during the last quarter. State Street Corp increased its position in Corcept Therapeutics by 0.5% during the 4th quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock valued at $103,915,000 after buying an additional 15,656 shares in the last quarter. Geode Capital Management LLC increased its position in Corcept Therapeutics by 38.0% during the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after buying an additional 734,646 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Corcept Therapeutics by 213.5% in the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after buying an additional 1,480,059 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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