Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $135.25.

CORT has been the topic of several analyst reports. Wolfe Research initiated coverage on Corcept Therapeutics in a research note on Tuesday. They issued a “peer perform” rating on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Piper Sandler dropped their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $77.29 on Friday. The firm’s fifty day moving average is $77.82 and its two-hundred day moving average is $73.83. Corcept Therapeutics has a one year low of $49.00 and a one year high of $117.33. The firm has a market cap of $8.13 billion, a PE ratio of 68.40 and a beta of 0.43.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $207.64 million for the quarter, compared to analyst estimates of $223.78 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.Corcept Therapeutics’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. Research analysts predict that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 28,782 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $74.77, for a total transaction of $2,152,030.14. Following the transaction, the chief executive officer owned 2,741,370 shares in the company, valued at approximately $204,972,234.90. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $73.65, for a total value of $368,250.00. Following the transaction, the insider directly owned 10,277 shares of the company’s stock, valued at approximately $756,901.05. This trade represents a 32.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 259,400 shares of company stock worth $20,009,288 in the last three months. Company insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CORT. Advisory Services Network LLC acquired a new stake in shares of Corcept Therapeutics in the third quarter valued at about $25,000. Clearstead Advisors LLC increased its holdings in Corcept Therapeutics by 163.6% in the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter valued at approximately $28,000. Huntington National Bank boosted its stake in shares of Corcept Therapeutics by 54.0% during the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 168 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Corcept Therapeutics by 598.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 395 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

About Corcept Therapeutics

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.