Corcept Therapeutics (NASDAQ:CORT) Given “Buy” Rating at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a research report sent to investors on Thursday,Benzinga reports. Canaccord Genuity Group currently has a $140.00 price target on the biotechnology company’s stock.

Separately, Piper Sandler dropped their price target on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $135.25.

Corcept Therapeutics Trading Up 1.4%

Shares of CORT stock opened at $83.87 on Thursday. Corcept Therapeutics has a 12-month low of $42.01 and a 12-month high of $117.33. The business’s fifty day simple moving average is $72.19 and its 200-day simple moving average is $71.24. The company has a market cap of $8.84 billion, a PE ratio of 74.22 and a beta of 0.29.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $199.40 million. During the same quarter last year, the firm earned $0.32 EPS. The business’s quarterly revenue was up 18.7% on a year-over-year basis. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In related news, insider William Guyer sold 35,007 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $71.77, for a total value of $2,512,452.39. Following the transaction, the insider owned 5,487 shares in the company, valued at approximately $393,801.99. This represents a 86.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Douglas Lyon sold 5,823 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $67.51, for a total transaction of $393,110.73. Following the transaction, the insider directly owned 10,066 shares of the company’s stock, valued at $679,555.66. This represents a 36.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,215 shares of company stock valued at $15,572,699 over the last three months. Company insiders own 20.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CORT. Golden State Wealth Management LLC purchased a new position in shares of Corcept Therapeutics during the second quarter worth $28,000. 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 valued at $35,000 after buying an additional 168 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Corcept Therapeutics by 99.5% during the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 186 shares during the last quarter. Employees Retirement System of Texas acquired a new position in shares of Corcept Therapeutics in the 2nd quarter valued at about $52,000. Finally, USA Financial Formulas purchased a new stake in shares of Corcept Therapeutics in the second quarter worth about $56,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.