Key Points
- Insider selling: William Guyer sold 16,300 Corcept Therapeutics shares for approximately $1.85 million at an average price of $113.43, reducing his direct ownership by 80.35% to 3,985 shares. He has also sold shares in several transactions since June.
- Strong quarterly results: Corcept reported quarterly revenue of $256.15 million, up 31.7% year over year and above estimates of $221.15 million. Earnings per share came in at $0.36, exceeding the $0.02 consensus forecast.
- Stock and analyst view: CORT opened at $112.18, near its one-year high of $122.21, with a market capitalization of $12.13 billion. Analysts hold a consensus “Moderate Buy” rating and an average price target of $119.17, though targets range from $50 to $135.
Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 1,031 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $114.52, for a total value of $118,070.12. Following the sale, the insider owned 9,755 shares of the company's stock, valued at approximately $1,117,142.60. This represents a 9.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Sean Maduck also recently made the following trade(s):
- On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The stock was 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 stock was 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 shares were sold at an average price of $70.21, for a total value of $1,755,250.00.
- On Wednesday, May 27th, Sean Maduck sold 75,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $65.59, for a total value of $4,919,250.00.
Corcept Therapeutics Price Performance
Shares of NASDAQ CORT opened at $112.18 on Thursday. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 267.10 and a beta of 0.45. The stock's fifty day moving average price is $91.79 and its two-hundred day moving average price is $61.13. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $122.21.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company had revenue of $256.15 million during the quarter, compared to analysts' expectations of $221.15 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. Corcept Therapeutics's quarterly revenue was up 31.7% on a year-over-year basis. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on CORT shares. HC Wainwright increased their target price on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. UBS Group set a $135.00 price target on Corcept Therapeutics in a research note on Thursday, May 28th. Zacks Research raised Corcept Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th. Wall Street Zen upgraded Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.17.
Read Our Latest Report on CORT
Institutional Trading of Corcept Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in CORT. Avidity Partners Management LP acquired a new stake in shares of Corcept Therapeutics during the fourth quarter valued at about $766,000. Norges Bank bought a new stake in Corcept Therapeutics during the 4th quarter worth approximately $24,213,000. BOKF NA acquired a new position in Corcept Therapeutics in the 4th quarter valued at approximately $1,061,000. Jefferies Financial Group Inc. acquired a new position in Corcept Therapeutics in the 4th quarter valued at approximately $2,021,000. Finally, Geode Capital Management LLC raised its stake in shares of Corcept Therapeutics by 38.0% during the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company's stock valued at $92,892,000 after acquiring an additional 734,646 shares during the last quarter. Institutional investors own 93.61% of the company's stock.
Corcept Therapeutics Company Profile
(
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.
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