Corcept Therapeutics (NASDAQ:CORT) Stock: Insider Sean Maduck Sells 413 Shares

Key Points

• Insider sale: Sean Maduck sold 413 Corcept Therapeutics shares for approximately $47,718, reducing his stake by 3.99% to 9,938 shares. The transaction follows several larger insider sales in recent months.
• Strong operating performance: Corcept reported quarterly EPS of $0.36, exceeding estimates of $0.02, while revenue rose 31.7% year over year to $256.15 million.
• Stock and analyst outlook: Shares recently traded at $122.03, near their 52-week high of $126.38. Analysts maintain a “Moderate Buy” consensus with an average price target of $138.17, while institutional investors own 93.61% of the stock.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 413 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $115.54, for a total transaction of $47,718.02. Following the transaction, the insider owned 9,938 shares in the company, valued at approximately $1,148,236.52. This trade represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, October 2nd, Sean Maduck sold 24,587 shares of Corcept Therapeutics stock. The shares were sold at an average price of $116.28, for a total value of $2,858,976.36.
• On Tuesday, September 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.43, for a total transaction of $2,860,750.00.
• On Tuesday, August 25th, Sean Maduck sold 30,955 shares of Corcept Therapeutics stock. The stock was sold at an average price of $125.58, for a total transaction of $3,887,328.90.
• On Friday, August 14th, Sean Maduck sold 3,664 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.49, for a total transaction of $419,491.36.
• On Monday, August 10th, Sean Maduck sold 1,031 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.52, for a total transaction of $118,070.12.
• On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.70, for a total value of $2,328,983.50.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded up $5.80 during trading hours on Monday, hitting $122.03. 1,004,763 shares of the company's stock were exchanged, compared to its average volume of 1,733,962. The company's 50-day moving average price is $113.94 and its 200-day moving average price is $81.87. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $126.38. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 290.55 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.34. The firm had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company's revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. On average, research analysts expect that Corcept Therapeutics Incorporated will post 1.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Wolfe Research downgraded shares of Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price target on the stock. in a research note on Monday, July 27th. Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Zacks Research upgraded shares of Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 28th. Finally, Piper Sandler restated an "overweight" rating and set a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $138.17.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Corcept Therapeutics in the 2nd quarter valued at about $1,080,964,000. First Trust Advisors LP raised its position in shares of Corcept Therapeutics by 213.5% during the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company's stock valued at $87,609,000 after acquiring an additional 1,480,059 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Corcept Therapeutics by 38.0% in the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company's stock valued at $92,892,000 after purchasing an additional 734,646 shares during the period. Norges Bank bought a new position in shares of Corcept Therapeutics during the fourth quarter worth about $24,213,000. Finally, Bank of New York Mellon Corp acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at $49,185,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company's research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept's principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing's syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.

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