Sean Maduck Sells 18,303 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 18,303 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07. Following the transaction, the insider now directly owns 85,622 shares of the company’s stock, valued at approximately $5,196,399.18. The trade was a 17.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, January 2nd, Sean Maduck sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $55.49 on Thursday. The business’s 50 day simple moving average is $60.20 and its 200 day simple moving average is $51.97. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00. The stock has a market capitalization of $5.85 billion, a PE ratio of 44.04 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate 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, research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently added to or reduced their stakes in CORT. Norges Bank bought a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $42,055,000. Jacobs Levy Equity Management Inc. lifted its stake in Corcept Therapeutics by 40.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after buying an additional 352,947 shares during the period. Braun Stacey Associates Inc. acquired a new position in Corcept Therapeutics in the fourth quarter valued at approximately $14,935,000. FMR LLC lifted its stake in Corcept Therapeutics by 24.6% in the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after buying an additional 269,074 shares during the period. Finally, Synergy Asset Management LLC lifted its stake in Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after buying an additional 262,503 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CORT has been the subject of several research analyst reports. Piper Sandler boosted their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.75.

About Corcept Therapeutics

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.