Sean Maduck Sells 20,305 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Sean Maduck sold 20,305 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $114.70, for a total value of $2,328,983.50. Following the transaction, the insider owned 9,755 shares of the company’s stock, valued at $1,118,898.50. This represents a 67.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, July 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $88.35, for a total value 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 value of $1,755,250.00.
• On Wednesday, May 27th, Sean Maduck sold 75,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $65.59, for a total transaction of $4,919,250.00.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $107.95 on Friday. The company’s fifty day moving average is $88.48 and its 200 day moving average is $59.01. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $122.21. The stock has a market capitalization of $11.67 billion, a PE ratio of 257.03 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $221.15 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Corcept Therapeutics’s revenue was up 31.7% on a year-over-year basis. As a group, research analysts forecast that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current year.

Key Stories Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Recent momentum has been supported by Corcept’s raised outlook, which helped drive the stock toward a 52-week high. The company’s latest quarterly results also showed revenue of $256.15 million, up 31.7% year over year and well above the $221.15 million consensus estimate, while adjusted EPS of $0.36 exceeded expectations by $0.34. Raised Guidance Lifts Corcept to 52-Week High
• Positive Sentiment: Analyst sentiment remains broadly favorable. HC Wainwright raised its price target to $165 and maintained a buy rating, while the overall analyst consensus is “Moderate Buy,” with an average target of $119.17. Zacks also upgraded the stock from “strong sell” to “hold.” Corcept Therapeutics analyst ratings
• Neutral Sentiment: Corcept has attracted continued institutional ownership, with institutional investors and hedge funds holding approximately 93.6% of outstanding shares. Several funds recently increased their positions, although these changes were relatively small.
• Negative Sentiment: Multiple insiders have recently sold shares after the stock’s sharp advance. Sean Maduck sold 20,305 shares for approximately $2.33 million, reducing his holdings by 67.55%; William Guyer sold 3,700 shares for about $418,544, cutting his ownership by 48.15%; and Joseph Douglas Lyon sold 1,540 shares worth $175,806, reducing his position by 21.89%. The concentration of sales may raise concerns about insider confidence or encourage profit-taking. Corcept Therapeutics insider selling
• Negative Sentiment: Valuation risk is elevated following the rally: Corcept trades at more than 250 times earnings, leaving the stock vulnerable to profit-taking and disappointment despite its strong growth. Wolfe Research remains bearish, assigning an “underperform” rating and a $50 price target.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new stake in shares of Corcept Therapeutics in the fourth quarter worth approximately $25,000. Advisory Services Network LLC purchased a new position in Corcept Therapeutics during the 3rd quarter valued at $25,000. Atlas Capital Advisors Inc. purchased a new position in Corcept Therapeutics during the 4th quarter valued at $31,000. State of Wyoming grew its position in Corcept Therapeutics by 29.5% in the 1st 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. Finally, Hantz Financial Services Inc. grew its position in Corcept Therapeutics by 113.7% in the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 524 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the subject of a number of analyst reports. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research note on Monday, July 27th. Finally, Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.17.

About Corcept Therapeutics

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.