Corcept Therapeutics (NASDAQ:CORT) Given Buy Rating at Truist Financial

Truist Financial restated their buy rating on shares of Corcept Therapeutics (NASDAQ:CORTFree Report) in a research report released on Tuesday morning, Benzinga reports. Truist Financial currently has a $65.00 price objective on the biotechnology company’s stock, up from their previous price objective of $44.00.

A number of other brokerages have also recently issued reports on CORT. StockNews.com cut Corcept Therapeutics from a strong-buy rating to a buy rating in a report on Friday, May 3rd. HC Wainwright reiterated a buy rating and set a $40.00 price objective on shares of Corcept Therapeutics in a research note on Wednesday, May 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $44.30.

Read Our Latest Stock Analysis on CORT

Corcept Therapeutics Trading Up 5.0 %

Shares of NASDAQ:CORT opened at $32.87 on Tuesday. The stock’s 50-day moving average price is $25.75 and its two-hundred day moving average price is $25.43. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $34.28. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 31.01 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORTGet Free Report) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The business had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. As a group, research analysts forecast that Corcept Therapeutics will post 0.95 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 11,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $30.39, for a total value of $334,290.00. Following the transaction, the insider now owns 20,203 shares in the company, valued at $613,969.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $30.39, for a total value of $334,290.00. Following the completion of the transaction, the insider now owns 20,203 shares of the company’s stock, valued at $613,969.17. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sean Maduck sold 50,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the sale, the insider now owns 85,222 shares of the company’s stock, valued at approximately $2,386,216. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,372 shares of company stock valued at $3,493,515. Corporate insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors have recently made changes to their positions in the stock. Cetera Advisors LLC acquired a new position in shares of Corcept Therapeutics during the first quarter worth approximately $340,000. Burney Co. increased its holdings in shares of Corcept Therapeutics by 3.0% in the 1st quarter. Burney Co. now owns 431,638 shares of the biotechnology company’s stock valued at $10,873,000 after purchasing an additional 12,402 shares during the period. Hancock Whitney Corp increased its stake in Corcept Therapeutics by 130.5% in the 1st quarter. Hancock Whitney Corp now owns 27,497 shares of the biotechnology company’s stock valued at $693,000 after buying an additional 15,567 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Corcept Therapeutics in the first quarter valued at about $18,426,000. Finally, Janus Henderson Group PLC raised its position in Corcept Therapeutics by 482.6% during the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock valued at $6,677,000 after acquiring an additional 219,551 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

About Corcept Therapeutics

(Get Free Report)

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.

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