Corcept Therapeutics (NASDAQ:CORT) Stock Rating Lowered by Zacks Research

Corcept Therapeutics (NASDAQ:CORT) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on CORT. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Piper Sandler dropped their price target on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, August 1st. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.25.

Corcept Therapeutics Stock Up 1.5%

CORT opened at $85.48 on Wednesday. Corcept Therapeutics has a 12-month low of $42.01 and a 12-month high of $117.33. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 75.65 and a beta of 0.46. The business has a 50 day moving average of $73.42 and a 200-day moving average of $71.91.

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

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 35,007 shares of Corcept Therapeutics stock in a transaction on Friday, August 1st. The stock was sold at an average price of $67.79, for a total value of $2,373,124.53. Following the completion of the transaction, the insider directly owned 7,681 shares of the company’s stock, valued at $520,694.99. The trade was a 82.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Guyer sold 35,007 shares of Corcept Therapeutics stock in a transaction 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 completion of the transaction, the insider directly owned 5,487 shares of the company’s stock, valued at $393,801.99. This represents a 86.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,810 shares of company stock valued at $15,542,942 over the last 90 days. 20.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank raised its stake in 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. Focus Partners Wealth raised its stake in Corcept Therapeutics by 0.5% during the 1st quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock worth $3,797,000 after buying an additional 170 shares during the period. Nisa Investment Advisors LLC raised its stake in Corcept Therapeutics by 1.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,951 shares of the biotechnology company’s stock worth $730,000 after buying an additional 180 shares during the period. Brooklyn Investment Group raised its stake in Corcept Therapeutics by 99.5% during the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after buying an additional 186 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Corcept Therapeutics by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock worth $3,237,000 after buying an additional 200 shares during the period. 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.