Corcept Insiders Sell $35M as CORT Hits 2026 Highs
Corcept Therapeutics stock hit its highest levels of 2026 this week as a relacorilant NDA resubmission extended a five-session rally — yet in the same 90-day period, company insiders sold $35.27 milli
Corcept Insiders Sell $35M as CORT Hits 2026 Highs
NEW YORK, August 26 —
Corcept Therapeutics Incorporated (CORT) reached its 2026 price high this week on a relacorilant NDA resubmission, even as insiders sold $35.27 million in shares across the prior 90-day period with zero purchases. The CFO, Chief Development Officer, Chief Business Officer, a director, and two others all net sold. The timing raises a question the rally cannot answer.
- Most recent quarter: EPS $0.36 vs. consensus, a 529.4% positive surprise reversing two consecutive quarterly misses.
- CFO Atabak Mokari sold $9.2 million across 13 tranches on July 30, the day after the earnings 8-K.
- CORT at $123.57; forward P/E 28.1x; analyst consensus target $141; short interest 11.6% of the float.
The Selling Pattern
The CFO's July 30 activity is the most pointed data point. CFO Atabak Mokari exercised 80,000 options at $23.06 per share, capturing an approximately $97 spread, then sold $9.2 million across 13 tranches at prices up to $120.67 the day after Corcept filed its earnings 8-K under Items 2.02 and 7.01. Three weeks later, Director David L. Mahoney sold 103,606 shares across four tranches for $12.25 million as the stock sat at 2026 highs. The combined $35.27 million from six insiders over 90 days, with zero purchases on the other side, is harder to attribute to individual circumstance.
Korlym's Earnings Power
Corcept Therapeutics Incorporated derives essentially all its revenue from Korlym, an oral mifepristone for adults with Cushing's syndrome who develop hyperglycemia and cannot tolerate surgery. The business generated $830 million in trailing revenue at 31.7% growth and a 98.3% gross margin. With $310 million in cash against minimal debt and $77 million in trailing free cash flow, the fundamental profile explains why the stock trades at 28.1x forward earnings; the DCF calculator can stress-test whether that holds across different relacorilant approval scenarios. The most recent quarter's $0.36 EPS against a consensus reversed two straight misses, providing the base momentum that relacorilant's NDA resubmission then extended.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| CORT | $13.4B | 28.1x | +76.7% |
| CYTK | $10.8B | n/a | +103.8% |
| SUPN | $2.6B | 10.2x | +0.1% |
| HALO | $12.4B | 10.5x | +48.5% |
| VNDA | $329M | 27.2x | +15.4% |
| INVA | $1.5B | 9.6x | +5.5% |
The Two Questions the Rally Has Not Answered
Relacorilant's NDA resubmission for Cushing's syndrome is the clearest catalyst ahead, and the approval decision will test whether the current multiple earns a durability argument beyond Korlym's single-product concentration. Short interest at 11.6% of the float means an approval headline carries real squeeze potential, which the five-session winning streak has previewed. The immediate question is whether insider selling continues at current price levels: all six sellers acted between July and August 26, none bought. The next earnings release will determine whether the $0.36 EPS was a step change or a one-quarter reversal. Run the free Corcept Therapeutics Incorporated deep-dive for current fundamentals.
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Corcept Therapeutics stock hit its highest levels of 2026 this week as a relacorilant NDA resubmission extended a five-session rally — yet in the same 90-day period, company insiders sold $35.27 million in shares with zero purchases, including the CFO unloading across 13 separate tranches the day after the July 29 earnings release.