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Summary

  • 4 insiders purchased Corcept stock within one month.
  • The stock was sold by no insiders in the month of intensive purchasing.
  • 2 of these 4 insiders increased their holdings by more than 10%.

Corcept Therapeutics (NASDAQ:CORT) is engaged in the discovery, development, and commercialization of drugs for the treatment of metabolic, psychiatric, and oncologic disorders in the United States.
(click to enlarge)

Insider buying during the last 30 days

Here is a table of Corcept's insider activity during the last 30 days.

NameTitleTrade DateShares PurchasedCurrent OwnershipIncrease In Shares
Joseph CookDirectorMay 9-13200,0002,040,826
shares
+10.9%
Daniel BradburyDirectorMay 9-12138,925317,925 shares+77.6%
David MahoneyDirectorMay 9100,0001,119,533 shares+9.8%
Leonard BakerDirectorMay 9100,0008,687,453 shares+1.2%

There have been 538,925 shares purchased by insiders during the last 30 days.

Insider buying by calendar month

Here is a table of Corcept's insider activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
May 2014538,925250,000
April 20140250,000
March 20140250,000
February 201400
January 201400
December 201300
November 201300
October 201300
September 201300
August 201300
July 201300
June 201300
May 201300
April 201300
March 201310,0000
February 201300
January 201300

There have been 548,925 shares purchased, and there have been 750,000 shares sold by insiders since January 2013. The month of May 2014 has seen the most insider buying.

Financials

Corcept reported the first-quarter financial results on May 7, with the following highlights:

Revenue$4.4 million
Net loss$13.9 million
Cash$43.6 million
Debt$35.1 million

On May 7, Corcept also reported that it is discontinuing its Phase III psychotic depression study, based on the recommendation of the study's data monitoring committee that the study was unlikely to meet its primary endpoint with statistical significance. The four insiders purchased their shares after these results.

Outlook

Corcept's 2014 revenue guidance is $25 million to $29 million. The company believes it will reach cash flow breakeven without having to raise additional funds.

Pipeline and upcoming milestones

Corcept has one approved product, Korlym, for treatment of hyperglycemia. Corcept's study of mifepristone in the treatment of triple-negative breast cancer should yield initial efficacy results in the first half of 2015. The company will also move two of its next-generation compounds into the clinic this year.

Conclusion

There have been four different insiders buying Corcept, and there have not been any insiders selling Corcept during the last 30 days. Two of these four insiders increased their holdings by more than 10%. Corcept has an insider ownership of 35.55%.

The four insiders purchased their shares at prices ranging from $1.79 to $1.85. I believe Corcept could be a good pick below $1.85, based on the intensive insider buying.

Source: Corcept Therapeutics: 4 Different Insiders Have Purchased Shares During The Last 30 Days