Corcept Therapeutics (NASDAQ:CORT) Insider Sells $1,701,200.00 in Stock

Key Points

• Corcept Therapeutics insider Sean Maduck sold 20,000 shares of the company at an average price of $85.06, totaling $1,701,200, representing a 71.67% decrease in his ownership.
• The company's shares rose 3.1% during trading to reach $88.15, with a market cap of $9.29 billion and a PE ratio of 78.01.
• Corcept Therapeutics recently reported quarterly earnings of $0.29 per share, surpassing analyst expectations, although revenue fell short of estimates at $194.43 million.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $85.06, for a total value of $1,701,200.00. Following the completion of the transaction, the insider owned 7,904 shares in the company, valued at $672,314.24. The trade was a 71.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, September 2nd, Sean Maduck sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.49, for a total value of $1,409,800.00.
• On Friday, August 1st, Sean Maduck sold 35,007 shares of Corcept Therapeutics stock. The stock was sold at an average price of $67.79, for a total value of $2,373,124.53.
• On Thursday, July 17th, Sean Maduck sold 4,315 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.48, for a total value of $317,066.20.
• On Friday, July 18th, Sean Maduck sold 473 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.44, for a total value of $34,737.12.

Corcept Therapeutics Trading Up 3.1%

Shares of NASDAQ CORT traded up $2.67 during mid-day trading on Friday, reaching $88.15. The company had a trading volume of 843,089 shares, compared to its average volume of 1,242,188. The stock has a market cap of $9.29 billion, a PE ratio of 78.01 and a beta of 0.46. The company has a 50-day moving average price of $73.42 and a two-hundred day moving average price of $71.91. Corcept Therapeutics Incorporated has a 1-year low of $42.01 and a 1-year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results 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 return on equity of 20.10% and a net margin of 18.51%.Corcept Therapeutics's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CORT. Weiss Ratings reissued a "hold (c)" rating on shares of Corcept Therapeutics in a research note on Saturday, September 27th. Wall Street Zen raised Corcept Therapeutics from a "hold" rating to a "buy" rating in a research report on Friday, September 26th. Zacks Research lowered Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Canaccord Genuity Group reissued a "buy" rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Finally, Piper Sandler reduced their target price on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.25.

Institutional Trading of Corcept Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in Corcept Therapeutics during the 2nd quarter valued at approximately $28,000. Huntington National Bank boosted its stake in Corcept Therapeutics by 54.0% during the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 168 shares during the period. Brooklyn Investment Group boosted its stake in 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 during the period. Employees Retirement System of Texas bought a new stake in Corcept Therapeutics during the 2nd quarter valued at approximately $52,000. Finally, USA Financial Formulas acquired a new position in Corcept Therapeutics in the 2nd quarter valued at approximately $56,000. Institutional investors 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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