Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells 473 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 473 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $73.44, for a total value of $34,737.12. Following the transaction, the insider directly owned 17,705 shares in the company, valued at approximately $1,300,255.20. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 stock was sold at an average price of $73.48, for a total value of $317,066.20.
• On Tuesday, July 1st, Sean Maduck sold 205 shares of Corcept Therapeutics stock. The stock was sold at an average price of $73.45, for a total value 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 value 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 Price Performance

Shares of CORT traded down $0.74 on Monday, hitting $70.12. The company's stock had a trading volume of 628,963 shares, compared to its average volume of 1,184,765. The company has a market capitalization of $7.44 billion, a PE ratio of 60.45 and a beta of 0.15. Corcept Therapeutics Incorporated has a fifty-two week low of $32.33 and a fifty-two week high of $117.33. The company has a 50 day moving average price of $72.75 and a 200 day moving average price of $67.35.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The business had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. Corcept Therapeutics's revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on CORT shares. Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright dropped 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 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 report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.25.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at $42,055,000. Jupiter Asset Management Ltd. grew its stake in Corcept Therapeutics by 8,176.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company's stock worth $68,978,000 after buying an additional 596,606 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Corcept Therapeutics by 76.5% in the first quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company's stock valued at $142,345,000 after buying an additional 540,101 shares during the period. GAMMA Investing LLC increased its holdings in shares of Corcept Therapeutics by 12,888.9% in the 1st quarter. GAMMA Investing LLC now owns 389,148 shares of the biotechnology company's stock valued at $44,448,000 after purchasing an additional 386,152 shares during the period. Finally, Nuveen LLC purchased a new position in Corcept Therapeutics in the first quarter valued at about $35,580,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Company Profile

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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