Corcept Therapeutics (NASDAQ:CORT) Sets New 52-Week Low Following Analyst Downgrade

Corcept Therapeutics Incorporated (NASDAQ:CORT) reached a new 52-week low during mid-day trading on Friday after HC Wainwright lowered their price target on the stock from $105.00 to $67.00. HC Wainwright currently has a buy rating on the stock. Corcept Therapeutics traded as low as $28.66 and last traded at $34.24, with a volume of 11763006 shares changing hands. The stock had previously closed at $39.82.

Other analysts also recently issued research reports about the company. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research note on Wednesday, December 31st. UBS Group started coverage on Corcept Therapeutics in a report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Monday, December 29th. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Finally, Truist Financial set a $50.00 price objective on shares of Corcept Therapeutics in a research note on Wednesday, December 31st. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.17.

Insider Activity

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction on Monday, December 1st. The shares were sold at an average price of $79.53, for a total value of $397,650.00. Following the completion of the transaction, the insider owned 10,277 shares of the company’s stock, valued at approximately $817,329.81. The trade was a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Guyer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $40.87, for a total transaction of $817,400.00. Following the completion of the transaction, the insider owned 1,235 shares of the company’s stock, valued at approximately $50,474.45. This trade represents a 94.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 129,500 shares of company stock valued at $8,665,500 in the last quarter. Company insiders own 20.80% of the company’s stock.

More Corcept Therapeutics News

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: HC Wainwright kept a “buy” rating on CORT despite cutting its price target from $105 to $67, signaling some analyst conviction in upside even after the patent loss. The Fly
• Positive Sentiment: Commentary arguing that the recent negative patent news may be largely priced in and that Corcept’s potential upside from ovarian cancer and other pipeline opportunities remains under-appreciated — a bullish narrative some investors are using to buy the dip. Seeking Alpha
• Neutral Sentiment: Reported short interest data in recent filings show effectively zero reported short interest (odd reporting artifact). Low measured short interest reduces immediate short‑squeeze risk but data may be unreliable. (No external link provided.)
• Negative Sentiment: The U.S. Court of Appeals (Federal Circuit) found Teva’s proposed generic does not infringe two Corcept patents covering Korlym, a ruling Corcept disclosed on Feb. 19 — the primary catalyst for the sharp selloff and heightened volatility. Business Wire
• Negative Sentiment: Immediate market reaction included steep intraday declines reported across outlets and several Limit Up/Limit Down (LULD) trading halts as the news hit, signaling heavy selling pressure and elevated short‑term risk. Benzinga

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Pathstone Holdings LLC grew its holdings in Corcept Therapeutics by 0.8% in the third quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock valued at $1,497,000 after purchasing an additional 144 shares during the period. Huntington National Bank raised 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 buying an additional 168 shares during the period. Campbell Newman Asset Management Inc. lifted its position in shares of Corcept Therapeutics by 0.5% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 35,530 shares of the biotechnology company’s stock valued at $2,953,000 after buying an additional 170 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Corcept Therapeutics by 1.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,951 shares of the biotechnology company’s stock valued at $730,000 after acquiring an additional 180 shares during the period. Finally, Clearstead Advisors LLC grew its stake in Corcept Therapeutics by 163.6% in the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 193 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $49.14 and its 200 day moving average is $67.00. The company has a market cap of $3.66 billion, a PE ratio of 39.57 and a beta of 0.25.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.