Insider Selling: Corcept Therapeutics Incorporated (NASDAQ:CORT) Insider Sells $1,007,800.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Corcept Therapeutics Trading Up 0.9 %

NASDAQ:CORT opened at $51.69 on Thursday. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $62.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm’s fifty day moving average is $54.69 and its 200-day moving average is $43.77. The firm has a market cap of $5.42 billion, a P/E ratio of 41.02 and a beta of 0.56.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. Equities analysts expect that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CORT. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Piper Sandler raised their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Truist Financial raised their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $65.25.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Hancock Whitney Corp grew its position in shares of Corcept Therapeutics by 1.2% during the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock worth $1,062,000 after buying an additional 270 shares during the period. KBC Group NV grew its holdings in Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 496 shares during the period. GAMMA Investing LLC increased its stake in Corcept Therapeutics by 20.3% in the fourth quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 506 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Corcept Therapeutics during the third quarter valued at about $25,000. Finally, Bank of Montreal Can boosted its position in shares of Corcept Therapeutics by 5.0% during the 2nd quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company’s stock worth $395,000 after purchasing an additional 580 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

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.