HC Wainwright Has Lowered Expectations for Corcept Therapeutics (NASDAQ:CORT) Stock Price

Corcept Therapeutics (NASDAQ:CORT) had its target price reduced by analysts at HC Wainwright from $105.00 to $67.00 in a report issued on Friday, MarketBeat reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 92.42% from the stock’s previous close.

Several other brokerages have also recently weighed in on CORT. UBS Group initiated coverage on shares of Corcept Therapeutics in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price target on the stock. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research report on Wednesday, December 31st. Canaccord Genuity Group lifted their target price on shares of Corcept Therapeutics from $99.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Hold” and a consensus price target of $77.17.

Corcept Therapeutics Price Performance

Shares of CORT opened at $34.82 on Friday. The firm has a market capitalization of $3.66 billion, a PE ratio of 39.57 and a beta of 0.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07. Corcept Therapeutics has a fifty-two week low of $28.66 and a fifty-two week high of $117.33. The company’s 50-day moving average is $49.14 and its 200-day moving average is $66.98.

Insider Activity at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 5,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $79.53, for a total transaction of $397,650.00. Following the completion of the transaction, the insider directly owned 10,277 shares of the company’s stock, valued at approximately $817,329.81. This trade represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $40.87, for a total value of $817,400.00. Following the transaction, the insider owned 1,235 shares of the company’s stock, valued at $50,474.45. This represents a 94.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 129,500 shares of company stock worth $8,665,500 over the last quarter. 20.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Torren Management LLC purchased a new position in Corcept Therapeutics in the fourth quarter valued at about $25,000. Advisory Services Network LLC purchased a new stake in Corcept Therapeutics during the third quarter worth $25,000. Clearstead Advisors LLC increased its stake in shares of 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 purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Corcept Therapeutics in the 2nd quarter worth $28,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Corcept Therapeutics in the 4th quarter worth about $31,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Key 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

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.