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 business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Corcept Therapeutics Stock Up 1.6 %

Shares of NASDAQ CORT opened at $51.66 on Tuesday. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 41.00 and a beta of 0.56. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $62.22. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $54.63 and its 200-day moving average price is $43.62.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. The business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. During the same period last year, the company earned $0.28 EPS. The company’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

CORT has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Truist Financial raised their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $65.25.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. M&G PLC bought a new position in Corcept Therapeutics during the 3rd quarter valued at about $11,173,000. Empowered Funds LLC bought a new position in shares of Corcept Therapeutics during the third quarter valued at approximately $1,784,000. Victory Capital Management Inc. raised its holdings in shares of Corcept Therapeutics by 49.2% in the third quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock worth $1,936,000 after buying an additional 13,787 shares during the period. State Street Corp lifted its stake in shares of Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after acquiring an additional 19,893 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Corcept Therapeutics by 20.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock valued at $39,781,000 after acquiring an additional 143,507 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.