Key Points
- Insider Joseph Douglas Lyon sold 9,190 Corcept Therapeutics shares at an average price of $116.13, generating approximately $1.07 million. His remaining stake fell 61.79% to 5,683 shares.
- Corcept reported strong 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 and above expectations.
- The stock opened at $122.03 and has a market capitalization of about $13.19 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $138.17, although recent insider selling and mixed ratings remain notable.
Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) insider Sean Maduck sold 413 shares of Corcept Therapeutics stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $115.54, for a total value of $47,718.02. Following the transaction, the insider owned 9,938 shares in the company, valued at $1,148,236.52. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Sean Maduck also recently made the following trade(s):
- On Friday, October 2nd, Sean Maduck sold 24,587 shares of Corcept Therapeutics stock. The stock was sold at an average price of $116.28, for a total transaction of $2,858,976.36.
- On Tuesday, September 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.43, for a total transaction of $2,860,750.00.
- On Tuesday, August 25th, Sean Maduck sold 30,955 shares of Corcept Therapeutics stock. The stock was sold at an average price of $125.58, for a total transaction of $3,887,328.90.
- On Friday, August 14th, Sean Maduck sold 3,664 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.49, for a total value of $419,491.36.
- On Monday, August 10th, Sean Maduck sold 1,031 shares of Corcept Therapeutics stock. The shares were 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.
Corcept Therapeutics Stock Up 5.0%
Shares of Corcept Therapeutics stock opened at $122.03 on Tuesday. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 290.55 and a beta of 0.40. The business has a 50-day moving average price of $113.94 and a 200-day moving average price of $81.87. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million for the quarter, compared to analysts' expectations of $221.15 million. During the same period in the prior year, the firm earned $0.29 EPS. The company's revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities analysts expect that Corcept Therapeutics Incorporated will post 1.86 EPS for the current fiscal year.
Key Stories Impacting Corcept Therapeutics
Here are the key news stories impacting Corcept Therapeutics this week:
- Negative Sentiment: Several Corcept insiders sold a combined 43,333 shares for approximately $5.03 million in transactions executed October 1–2. Sean Maduck reduced his position by 71.22%, Joseph Douglas Lyon by 61.79%, and Roberto Vieira by 67.86%. Although insider sales can reflect diversification or scheduled transactions, the size of the reductions may weigh on investor sentiment. SEC insider ownership filing SEC insider ownership filing SEC insider ownership filing
- Neutral Sentiment: A separate report compares Corcept Therapeutics with Xeris Biopharma, but the available headline provides no specific change to Corcept’s earnings outlook, pipeline, or valuation. Contrasting Xeris Biopharma and Corcept Therapeutics
Hedge Funds Weigh In On Corcept Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Corcept Therapeutics by 1.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,617 shares of the biotechnology company's stock valued at $923,000 after buying an additional 184 shares in the last quarter. State of Wyoming lifted its position in Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 186 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Corcept Therapeutics in the second quarter valued at $27,000. Campbell Newman Asset Management Inc. boosted its stake in Corcept Therapeutics by 1.9% in the first quarter. Campbell Newman Asset Management Inc. now owns 17,251 shares of the biotechnology company's stock valued at $695,000 after acquiring an additional 320 shares in the last quarter. Finally, Gould Capital LLC grew its holdings in shares of Corcept Therapeutics by 66.7% during the first quarter. Gould Capital LLC now owns 1,000 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.
Analyst Upgrades and Downgrades
CORT has been the topic of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Zacks Research upgraded Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Monday, September 28th. Weiss Ratings raised shares of Corcept Therapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, September 24th. Finally, HC Wainwright reissued a "buy" rating and set a $165.00 price target on shares of Corcept Therapeutics in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of "Moderate Buy" and an average price target of $138.17.
Get Our Latest Report on Corcept Therapeutics
Corcept Therapeutics Company Profile
(
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Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company's research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.
Corcept's principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing's syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.
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