Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $88.35, for a total value of $2,208,750.00. Following the completion of the transaction, the insider directly owned 9,755 shares of the company's stock, valued at $861,854.25. This represents a 71.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Sean Maduck also recently made the following trade(s):
- On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.21, for a total transaction of $1,755,250.00.
- On Wednesday, May 27th, Sean Maduck sold 75,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $65.59, for a total transaction of $4,919,250.00.
Corcept Therapeutics Price Performance
CORT opened at $91.61 on Tuesday. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $92.83. The firm has a market capitalization of $9.83 billion, a price-to-earnings ratio of 261.75 and a beta of 0.47. The company's 50 day moving average price is $68.89 and its two-hundred day moving average price is $52.27.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The business had revenue of $164.90 million for the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. Corcept Therapeutics's revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 0.53 EPS for the current year.
Institutional Investors Weigh In On Corcept Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of CORT. Torren Management LLC acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in Corcept Therapeutics in the 3rd quarter valued at $25,000. Atlas Capital Advisors Inc. bought a new stake in Corcept Therapeutics during the 4th quarter valued at $31,000. State of Wyoming raised its holdings in 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 buying an additional 186 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Corcept Therapeutics by 113.7% during the fourth quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company's stock worth $34,000 after buying an additional 524 shares during the last quarter. Institutional investors own 93.61% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on CORT. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $110.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Truist Financial raised Corcept Therapeutics to a "strong-buy" rating in a research note on Monday, June 15th. HC Wainwright raised their price objective on Corcept Therapeutics from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Piper Sandler increased their target price on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Wolfe Research upgraded shares of Corcept Therapeutics from an "underperform" rating to a "peer perform" rating in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.83.
View Our Latest Stock Analysis on Corcept Therapeutics
About Corcept Therapeutics
(
Get Free Report)
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.
Further Reading
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