Corcept Therapeutics’ (CORT) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a report released on Monday,Benzinga reports. The brokerage currently has a $145.00 price target on the biotechnology company’s stock.

A number of other brokerages have also commented on CORT. Canaccord Genuity Group reaffirmed a “buy” rating and set a $140.00 target price on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Piper Sandler reduced their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, August 1st. Finally, Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $73.65 on Monday. Corcept Therapeutics has a 1-year low of $42.01 and a 1-year high of $117.33. The firm has a market capitalization of $7.76 billion, a P/E ratio of 65.18 and a beta of 0.46. The company’s 50-day moving average is $76.20 and its 200 day moving average is $73.04.

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 net margin of 18.51% and a return on equity of 20.10%. The company had revenue of $194.43 million for the quarter, compared to analyst estimates of $199.40 million. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. Corcept Therapeutics has set its FY 2025 guidance at EPS. Research analysts anticipate that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other 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 transaction of $2,512,452.39. Following the transaction, the insider directly owned 5,487 shares in the company, valued at approximately $393,801.99. This trade represents a 86.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Maduck sold 35,007 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the transaction, the insider owned 7,681 shares in the company, valued at approximately $520,694.99. This represents a 82.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 292,451 shares of company stock valued at $21,850,930 in the last ninety days. Company insiders own 20.80% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors have recently bought and sold shares of CORT. Norges Bank acquired a new stake in Corcept Therapeutics in the second quarter valued at approximately $72,048,000. TD Asset Management Inc acquired a new stake in Corcept Therapeutics in the second quarter valued at approximately $60,179,000. Epoch Investment Partners Inc. acquired a new stake in Corcept Therapeutics in the second quarter valued at approximately $56,181,000. Jupiter Asset Management Ltd. boosted its stake in Corcept Therapeutics by 8,176.0% in the first quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company’s stock valued at $68,978,000 after acquiring an additional 596,606 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Corcept Therapeutics by 76.5% in the first quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company’s stock valued at $142,345,000 after acquiring an additional 540,101 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.