Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 4,315 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 4,315 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $73.48, for a total transaction of $317,066.20. Following the completion of the transaction, the insider owned 17,705 shares in the company, valued at approximately $1,300,963.40. The trade was a 19.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 shares were sold at an average price of $79.08, for a total transaction of $1,581,600.00.
• On Friday, May 2nd, Sean Maduck sold 26,554 shares of Corcept Therapeutics stock. The shares were sold at an average price of $72.23, for a total transaction of $1,917,995.42.

Corcept Therapeutics Stock Performance

NASDAQ:CORT traded down $0.77 on Wednesday, hitting $68.31. The stock had a trading volume of 361,996 shares, compared to its average volume of 1,181,745. The stock has a market cap of $7.24 billion, a P/E ratio of 58.96 and a beta of 0.15. Corcept Therapeutics Incorporated has a 1 year low of $32.33 and a 1 year high of $117.33. The firm's fifty day simple moving average is $72.68 and its two-hundred day simple moving average is $67.50.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $157.21 million during the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The company's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its stake in Corcept Therapeutics by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company's stock valued at $3,237,000 after buying an additional 200 shares during the last quarter. JSF Financial LLC purchased a new stake in Corcept Therapeutics in the 2nd quarter valued at about $1,056,000. QRG Capital Management Inc. increased its stake in Corcept Therapeutics by 14.3% in the 2nd quarter. QRG Capital Management Inc. now owns 110,752 shares of the biotechnology company's stock valued at $8,129,000 after buying an additional 13,829 shares during the last quarter. Synergy Asset Management LLC increased its stake in Corcept Therapeutics by 51.4% in the 2nd quarter. Synergy Asset Management LLC now owns 258,494 shares of the biotechnology company's stock valued at $18,973,000 after buying an additional 87,743 shares during the last quarter. Finally, USA Financial Formulas bought a new position in shares of Corcept Therapeutics during the 2nd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Analyst Upgrades and Downgrades

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

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.