Sean Maduck Sells 20,000 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, the insider now directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock traded up $0.81 during trading on Monday, hitting $51.66. 690,876 shares of the company’s stock traded hands, compared to its average volume of 825,825. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $62.22. The business has a 50-day simple moving average of $54.63 and a 200-day simple moving average of $43.62. The stock has a market capitalization of $5.41 billion, a P/E ratio of 41.00 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. During the same quarter last year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CORT. Truist Financial lifted their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Piper Sandler raised their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $65.25.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CORT. M&G PLC bought a new stake in shares of Corcept Therapeutics in the third quarter worth $11,173,000. Empowered Funds LLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at about $1,784,000. Victory Capital Management Inc. increased its position in shares of Corcept Therapeutics by 49.2% during the 3rd quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after purchasing an additional 13,787 shares during the last quarter. State Street Corp lifted its stake in shares of Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after purchasing an additional 19,893 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Corcept Therapeutics by 20.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock worth $39,781,000 after buying an additional 143,507 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

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.