Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sean Maduck Sells 35,007 Shares

Key Points

• Sean Maduck, an insider at Corcept Therapeutics, sold 35,007 shares of the stock at an average price of $67.79, totaling approximately $2.37 million, resulting in an 82.01% decrease in his ownership.
• Corcept reported earnings of $0.29 per share for the last quarter, surpassing the consensus estimate of $0.23, while revenue was $194.43 million, slightly below predictions.
• Several analysts have revised their price targets, with Piper Sandler lowering their estimate from $131.00 to $121.00, maintaining an “overweight” rating.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 35,007 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the sale, the insider directly owned 7,681 shares of the company's stock, valued at approximately $520,694.99. This represents a 82.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, July 17th, Sean Maduck sold 4,315 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.48, for a total transaction of $317,066.20.
• On Friday, July 18th, Sean Maduck sold 473 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.44, for a total transaction of $34,737.12.
• On Tuesday, July 1st, Sean Maduck sold 205 shares of Corcept Therapeutics stock. The shares were sold at an average price of $73.45, for a total transaction of $15,057.25.
• On Monday, June 2nd, Sean Maduck sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $79.08, for a total value of $1,581,600.00.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded down $1.32 during trading hours on Tuesday, hitting $70.45. The company had a trading volume of 744,413 shares, compared to its average volume of 1,376,065. The firm has a market capitalization of $7.47 billion, a P/E ratio of 62.35 and a beta of 0.20. The firm's fifty day moving average is $71.48 and its 200-day moving average is $68.65. Corcept Therapeutics Incorporated has a fifty-two week low of $33.34 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. The firm had revenue of $194.43 million for the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler decreased their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a report on Friday. HC Wainwright decreased their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Canaccord Genuity Group lowered their price target on Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.50.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group raised its holdings in shares of Corcept Therapeutics by 99.5% during the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 186 shares in the last quarter. Huntington National Bank increased its position in Corcept Therapeutics by 54.0% during the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company's stock worth $35,000 after buying an additional 168 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Corcept Therapeutics by 102.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock valued at $71,000 after buying an additional 313 shares in the last quarter. Covestor Ltd boosted its stake in shares of Corcept Therapeutics by 1,741.2% during the 1st quarter. Covestor Ltd now owns 626 shares of the biotechnology company's stock worth $72,000 after acquiring an additional 592 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Corcept Therapeutics by 1,150.8% during the 1st quarter. IFP Advisors Inc now owns 738 shares of the biotechnology company's stock valued at $84,000 after acquiring an additional 679 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

About Corcept Therapeutics

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.

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