Key Points
- Corcept Therapeutics insider Sean Maduck sold 30,955 shares at an average price of $125.58, generating $3.89 million. The sale reduced his ownership by 76.04%, leaving him with 9,755 shares.
- Corcept reported stronger-than-expected quarterly results, with EPS of $0.36 versus the $0.02 consensus estimate and revenue of $256.15 million, up 31.7% year over year.
- Analysts maintain a Moderate Buy consensus rating with an average price target of $138.17, although price targets range from $50 to $165. The stock recently traded near its 52-week high and has a market capitalization of approximately $12.64 billion.
Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 30,955 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $125.58, for a total transaction of $3,887,328.90. Following the completion of the sale, the insider owned 9,755 shares in the company, valued at approximately $1,225,032.90. The trade was a 76.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Sean Maduck also recently made the following trade(s):
- On Friday, August 14th, Sean Maduck sold 3,664 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.49, for a total transaction of $419,491.36.
- On Monday, August 10th, Sean Maduck sold 1,031 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.52, for a total transaction of $118,070.12.
- On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.70, for a total transaction of $2,328,983.50.
- On Wednesday, July 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $88.35, for a total transaction 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 transaction of $1,755,250.00.
Corcept Therapeutics Stock Performance
NASDAQ CORT opened at $116.93 on Friday. The firm's fifty day moving average price is $100.49 and its two-hundred day moving average price is $67.04. The stock has a market cap of $12.64 billion, a PE ratio of 278.41 and a beta of 0.45. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $126.38.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $221.15 million. During the same period in the prior year, the business earned $0.29 earnings per share. The company's revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
CORT has been the subject of several research reports. Weiss Ratings upgraded Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 20th. Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Wolfe Research cut Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price target on the stock. in a report on Monday, July 27th. Truist Financial assumed coverage on Corcept Therapeutics in a research note on Tuesday, August 18th. They issued a "buy" rating and a $164.00 price objective for the company. Finally, HC Wainwright raised their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.17.
Read Our Latest Report on Corcept Therapeutics
Institutional Trading of Corcept Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Torren Management LLC acquired a new position in Corcept Therapeutics during the 4th quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in shares of Corcept Therapeutics in the third quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Corcept Therapeutics during the second quarter worth about $27,000. Atlas Capital Advisors Inc. bought a new position in shares of Corcept Therapeutics during the fourth quarter worth about $31,000. Finally, State of Wyoming lifted its stake in shares of Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 186 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
