Sean Maduck Sells 30,955 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Key Points

• Insider selling: Sean Maduck sold 30,955 Corcept Therapeutics shares for approximately $3.89 million, reducing his ownership by 76.04% to 9,755 shares. He has also made several other sales since June.
• Strong financial results: Corcept reported quarterly earnings of $0.36 per share, well above the $0.02 analyst consensus, while revenue rose 31.7% year over year to $256.15 million.
• Stock and analyst outlook: Shares recently traded at $116.93, near their 52-week high of $126.38. Analysts maintain a “Moderate Buy” consensus with an average price target of $138.17, although one firm rates the stock “Underperform.”

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 30,955 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $125.58, for a total value of $3,887,328.90. Following the transaction, the insider owned 9,755 shares of the company's stock, valued at approximately $1,225,032.90. This represents a 76.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, August 14th, Sean Maduck sold 3,664 shares of Corcept Therapeutics stock. The stock was 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 value 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.
• On Wednesday, July 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $88.35, for a total value of $2,208,750.00.
• On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $70.21, for a total transaction of $1,755,250.00.

Corcept Therapeutics Price Performance

Shares of CORT stock traded down $2.87 during trading on Thursday, reaching $116.93. The company's stock had a trading volume of 638,562 shares, compared to its average volume of 1,520,816. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $126.38. The stock's 50-day moving average price is $99.75 and its 200 day moving average price is $66.51. The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 278.41 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The company's revenue was up 31.7% on a year-over-year basis. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CORT shares. Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. HC Wainwright lifted their target price on Corcept Therapeutics from $95.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 20th. Wolfe Research cut shares of Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price target for the company. in a research note on Monday, July 27th. Finally, Wall Street Zen raised Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 1st. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $138.17.

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently modified their holdings of the business. Pathstone Holdings LLC increased its position in shares of Corcept Therapeutics by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company's stock worth $1,497,000 after purchasing an additional 144 shares during the last quarter. State of Wyoming lifted its position in shares of Corcept Therapeutics by 29.5% during the first quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 186 shares during the last quarter. Gould Capital LLC lifted its position in shares of Corcept Therapeutics by 50.0% during the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company's stock worth $50,000 after purchasing an additional 200 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Corcept Therapeutics by 3.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company's stock worth $240,000 after purchasing an additional 247 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in Corcept Therapeutics by 3.0% in the fourth quarter. Evergreen Capital Management LLC now owns 8,609 shares of the biotechnology company's stock worth $300,000 after purchasing an additional 248 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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