Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sean Maduck Sells 18,303 Shares

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 18,303 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the transaction, the insider now directly owns 85,622 shares of the company’s stock, valued at approximately $5,196,399.18. This trade represents a 17.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, January 2nd, Sean Maduck sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00.

Corcept Therapeutics Price Performance

NASDAQ CORT traded down $3.08 during trading hours on Tuesday, reaching $55.99. 1,889,312 shares of the company’s stock were exchanged, compared to its average volume of 1,005,169. The stock has a market cap of $5.91 billion, a PE ratio of 44.44 and a beta of 0.58. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00. The firm has a fifty day moving average of $60.12 and a 200-day moving average of $51.82. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Piper Sandler upped their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday. HC Wainwright reissued a “buy” rating and issued a $115.00 target price on shares of Corcept Therapeutics in a report on Thursday, February 27th. Finally, Canaccord Genuity Group increased their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.75.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently bought and sold shares of the business. M&G PLC bought a new position in Corcept Therapeutics in the 3rd quarter valued at $11,173,000. Synergy Asset Management LLC boosted its position in Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after buying an additional 262,503 shares during the last quarter. Van ECK Associates Corp bought a new position in Corcept Therapeutics in the 4th quarter valued at $4,483,000. Empowered Funds LLC bought a new position in Corcept Therapeutics in the 3rd quarter valued at $1,784,000. Finally, Victory Capital Management Inc. boosted its position in Corcept Therapeutics by 49.2% in the 3rd quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after buying an additional 13,787 shares during the last quarter. 93.61% of the stock is currently owned by 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.