Sean Maduck Sells 25,000 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.21, for a total transaction of $1,755,250.00. Following the completion of the sale, the insider owned 8,977 shares of the company’s stock, valued at approximately $630,275.17. This represents a 73.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 transaction of $4,919,250.00.

Corcept Therapeutics Stock Up 3.1%

CORT opened at $74.89 on Friday. The stock has a market cap of $8.04 billion, a P/E ratio of 213.98 and a beta of 0.50. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $91.00. The company has a fifty day simple moving average of $51.08 and a 200 day simple moving average of $52.00.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The company had revenue of $164.90 million during the quarter, compared to analyst estimates of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.Corcept Therapeutics’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

A number of large investors have recently modified their holdings of CORT. Torren Management LLC acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth about $25,000. Advisory Services Network LLC acquired a new position in shares of Corcept Therapeutics during the 3rd quarter worth about $25,000. Clearstead Advisors LLC boosted its stake in shares of Corcept Therapeutics by 163.6% during the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after buying an additional 193 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth about $31,000. Finally, State of Wyoming boosted its stake in shares of Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after buying an additional 186 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CORT. Piper Sandler upped their target price on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. HC Wainwright upped their target price on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wolfe Research raised shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

About Corcept Therapeutics

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.