HC Wainwright Cuts Corcept Therapeutics (NASDAQ:CORT) Price Target to $60.00

Corcept Therapeutics (NASDAQ:CORT) had its target price cut by HC Wainwright from $67.00 to $60.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other research firms have also issued reports on CORT. Wolfe Research lowered shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research report on Wednesday, December 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Monday, December 29th. Truist Financial set a $50.00 price objective on Corcept Therapeutics in a research note on Wednesday, December 31st. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, UBS Group initiated coverage on Corcept Therapeutics in a research report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.67.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $37.60 on Wednesday. Corcept Therapeutics has a twelve month low of $28.66 and a twelve month high of $117.33. The company has a current ratio of 2.92, a quick ratio of 2.85 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $37.53 and a two-hundred day moving average of $60.76. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 45.85 and a beta of 0.29.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a return on equity of 15.19% and a net margin of 12.96%.The business had revenue of $202.13 million during the quarter, compared to analyst estimates of $254.94 million. During the same period in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts expect that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, insider William Guyer sold 20,000 shares of the business’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 transaction of $817,400.00. Following the sale, the insider owned 1,235 shares in the company, valued at $50,474.45. The trade was a 94.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph K. Belanoff sold 26,198 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $50.07, for a total transaction of $1,311,733.86. Following the completion of the sale, the chief executive officer owned 2,918,326 shares of the company’s stock, valued at approximately $146,120,582.82. This trade represents a 0.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 86,198 shares of company stock valued at $3,552,769 over the last ninety days. Corporate insiders own 20.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of hedge funds have recently modified their holdings of CORT. State Street Corp raised its holdings in shares of Corcept Therapeutics by 0.5% during the fourth quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock worth $103,915,000 after acquiring an additional 15,656 shares in the last quarter. Geode Capital Management LLC grew its stake in Corcept Therapeutics by 38.0% in the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after purchasing an additional 734,646 shares in the last quarter. Morgan Stanley grew its stake in Corcept Therapeutics by 34.1% in the fourth quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock valued at $55,404,000 after purchasing an additional 405,081 shares in the last quarter. AQR Capital Management LLC increased its position in Corcept Therapeutics by 546.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares during the last quarter. Finally, TD Asset Management Inc increased its position in Corcept Therapeutics by 4.0% in the 4th quarter. TD Asset Management Inc now owns 994,844 shares of the biotechnology company’s stock worth $34,621,000 after purchasing an additional 38,708 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Key Headlines Impacting Corcept Therapeutics

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

• Positive Sentiment: FDA approval of Lifyorli (relacorilant) plus nab‑paclitaxel for platinum‑resistant ovarian cancer is a material commercial catalyst that triggered the earlier sharp rally; approval creates a new revenue pathway and is the primary reason investors re‑rated the stock this week. FDA approval report
• Positive Sentiment: Broker/analyst support: Wolfe Research upgraded CORT (from underperform to peer‑perform) and other brokers (Truist, Canaccord) have issued bullish/strong‑buy views or raised targets, which can sustain buying interest as the market models new sales upside. Wolfe Research upgrade
• Neutral Sentiment: Market structure/volatility: trading halts and large intraday prints accompanied the approval-driven move — expect continued high volume and price swings as investors reprice expectations for launch and uptake. Market reaction coverage
• Neutral Sentiment: Consensus/ratings mix: some outlets show a “moderate buy” brokerage consensus; analysts remain mixed on valuation as the market weighs launch potential vs. prior execution and study data. Broker consensus report
• Negative Sentiment: Legal risk: multiple law firms have filed shareholder alerts and class actions alleging that Corcept misled investors about regulatory issues and patent matters; these suits (and the referenced FDA rejection / federal court patent loss claims) create potential liability, discovery risk and distraction for management. Hagens Berman class‑action alert
• Negative Sentiment: Insider selling: a recent disclosed sale by an insider reduced holdings significantly; while not proof of negative outlook, such sales can weigh on sentiment when paired with litigation headlines. Insider sale filing
• Negative Sentiment: Analyst divergence / forecast cuts: some firms have tempered long‑term estimates or issued cautious notes (e.g., a pessimistic forecast from HC Wainwright in recent coverage), underscoring uncertainty around peak sales and reimbursement. HC Wainwright coverage

About Corcept Therapeutics

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.