Sean Maduck Sells 20,000 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 20,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $79.08, for a total transaction of $1,581,600.00. Following the completion of the sale, the insider now directly owns 17,705 shares in the company, valued at $1,400,111.40. This trade represents a 53.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, May 2nd, Sean Maduck sold 26,554 shares of Corcept Therapeutics stock. The stock was sold at an average price of $72.23, for a total transaction of $1,917,995.42.
• On Monday, March 31st, Sean Maduck sold 100,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00.

Corcept Therapeutics Stock Up 0.9%

NASDAQ:CORT traded up $0.59 during mid-day trading on Friday, reaching $69.60. The stock had a trading volume of 972,774 shares, compared to its average volume of 1,147,007. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 55.24 and a beta of 0.22. Corcept Therapeutics Incorporated has a 1-year low of $28.04 and a 1-year high of $117.33. The stock's 50 day simple moving average is $72.48 and its two-hundred day simple moving average is $63.73.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $157.21 million for the quarter, compared to analysts' expectations of $177.93 million. During the same period in the prior year, the firm earned $0.25 EPS. The business's quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Focus Partners Wealth boosted its holdings in shares of Corcept Therapeutics by 0.5% in the first quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company's stock valued at $3,797,000 after acquiring an additional 170 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Corcept Therapeutics by 99.5% in the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock worth $43,000 after acquiring an additional 186 shares during the last quarter. Black Diamond Financial LLC boosted its position in shares of Corcept Therapeutics by 4.0% in the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock valued at $262,000 after purchasing an additional 200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Corcept Therapeutics by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company's stock worth $909,000 after purchasing an additional 230 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Corcept Therapeutics by 9.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company's stock valued at $150,000 after buying an additional 257 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. HC Wainwright dropped their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Finally, Truist Financial set a $135.00 price target on Corcept Therapeutics in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $138.25.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.