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 dated Wednesday, July 1st. The stock was sold at an average price of $88.35, for a total transaction of $2,208,750.00. Following the sale, the insider directly owned 9,755 shares of the company’s stock, valued at $861,854.25. This represents a 71.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 Price Performance

Shares of NASDAQ:CORT opened at $94.04 on Wednesday. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $94.77. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 268.69 and a beta of 0.47. The company’s 50 day simple moving average is $69.85 and its 200 day simple moving average is $52.36.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The business had revenue of $164.90 million during the quarter, compared to analyst estimates of $185.83 million. During the same period last year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Torren Management LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter worth about $25,000. Atlas Capital Advisors Inc. bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $31,000. State of Wyoming lifted its stake in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 186 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in Corcept Therapeutics by 113.7% during the fourth quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 524 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. Wolfe Research upgraded Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, March 26th. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, UBS Group set a $135.00 price target on Corcept Therapeutics in a research note on Thursday, May 28th. One equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Corcept Therapeutics Company Profile

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.