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Sean Maduck, President of Corcept Endocrinology at Corcept Therapeutics Inc. (NASDAQ:CORT), recently sold a portion of his holdings in the company. On March 24, Maduck sold 1,697 shares of common stock at a price of $60.58 per share, totaling $102,804. This transaction was executed under a 10b5-1 plan Maduck adopted in September 2024. The sale comes as Corcept, now valued at $6.03 billion, has delivered an impressive 135% return over the past year, with revenue growing nearly 40% in the latest quarter. According to InvestingPro analysis, the stock is currently trading at Fair Value.
In addition, Maduck exercised stock options to acquire 1,697 shares at $5.05 each, amounting to a total purchase value of $8,569. InvestingPro data shows the company maintains excellent financial health with a "GREAT" overall score, supported by strong profitability metrics. Following these transactions, Maduck holds 85,622 shares directly, with additional shares held indirectly through Duckhill Capital, LLC and the Sean and Molly Maduck Living Trust.
In other recent news, Corcept Therapeutics reported its fourth-quarter 2024 earnings, revealing a shortfall in both earnings per share (EPS) and revenue compared to forecasts. The company’s EPS was $0.26, missing the expected $0.38, while revenue was $181.89 million, below the forecasted $198.05 million. Despite these quarterly challenges, Corcept’s annual revenue for 2024 increased by 40% to $675 million, with net income rising by 33% to $141 million. Additionally, Corcept announced that the U.S. Food and Drug Administration (FDA) accepted its New Drug Application for relacorilant, a treatment for endogenous hypercortisolism, setting a Prescription Drug User Fee Act (PDUFA) target action date of December 30, 2025. The company is also expanding its market for hypercortisolism treatments and has strong cash reserves of $603 million as of December 31, 2024. Analysts from firms like Piper Sandler and H.C. Wainwright have been closely monitoring the company’s developments, particularly its ongoing research in oncology and other therapeutic areas. Corcept’s CEO, Joe Belanoff, expressed confidence in the company’s future growth, highlighting the potential of relacorilant to become a new standard of care for Cushing’s syndrome.
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