Sean Maduck Sells 100,000 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the transaction, the insider now owns 85,622 shares in the company, valued at approximately $8,608,435.88. This represents a 53.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, March 3rd, Sean Maduck sold 18,303 shares of Corcept Therapeutics stock. The shares were sold at an average price of $60.69, for a total value of $1,110,809.07.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $83.81 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The business has a 50-day moving average of $64.18 and a 200-day moving average of $55.87. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 66.52 and a beta of 0.14. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $117.33.

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

Analyst Ratings Changes

Several brokerages have commented on CORT. Truist Financial raised their target price on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a report on Monday. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright upped their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Piper Sandler upped their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CORT. Vanguard Group Inc. lifted its position in shares of Corcept Therapeutics by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock valued at $509,726,000 after buying an additional 109,294 shares during the last quarter. Parallel Advisors LLC raised its stake in Corcept Therapeutics by 0.4% in the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company’s stock valued at $192,975,000 after acquiring an additional 15,908 shares during the period. State Street Corp lifted its holdings in Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Geode Capital Management LLC boosted its position in Corcept Therapeutics by 4.4% during the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after purchasing an additional 99,470 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Corcept Therapeutics by 4.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company’s stock valued at $82,889,000 after purchasing an additional 64,321 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

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.