Corcept Therapeutics’ (CORT) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a research note published on Monday morning,Benzinga reports. The firm currently has a $145.00 target price on the biotechnology company’s stock.

Other analysts have also issued research reports about the company. Zacks Research lowered Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Piper Sandler reduced their target price on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, August 1st. Wall Street Zen lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.25.

Corcept Therapeutics Trading Down 0.1%

Shares of CORT opened at $78.60 on Monday. Corcept Therapeutics has a 12 month low of $42.01 and a 12 month high of $117.33. The stock has a fifty day moving average price of $76.15 and a 200-day moving average price of $73.02. The firm has a market cap of $8.28 billion, a PE ratio of 69.56 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The firm had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $89.94, for a total transaction of $1,798,800.00. Following the sale, the insider directly owned 5,287 shares of the company’s stock, valued at approximately $475,512.78. This trade represents a 79.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total value of $3,403,200.00. Following the sale, the chief executive officer directly owned 2,781,370 shares in the company, valued at $236,638,959.60. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 292,451 shares of company stock worth $21,850,930 in the last three months. Company insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently modified their holdings of CORT. GAMMA Investing LLC grew its position in shares of Corcept Therapeutics by 13.7% during the 1st quarter. GAMMA Investing LLC now owns 3,407 shares of the biotechnology company’s stock valued at $389,000 after acquiring an additional 411 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Corcept Therapeutics by 3.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company’s stock valued at $909,000 after acquiring an additional 230 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $580,000. Oppenheimer & Co. Inc. grew its position in shares of Corcept Therapeutics by 39.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 22,246 shares of the biotechnology company’s stock valued at $2,541,000 after acquiring an additional 6,246 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $384,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

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.