HC Wainwright Reaffirms “Buy” Rating for Corcept Therapeutics (NASDAQ:CORT)

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $38.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 69.04% from the stock’s previous close.

A number of other research firms have also issued reports on CORT. Truist Financial raised their price target on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 17th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $39.30.

Corcept Therapeutics Stock Down 2.3 %

Shares of Corcept Therapeutics stock opened at $22.48 on Tuesday. The firm has a market capitalization of $2.34 billion, a P/E ratio of 23.66 and a beta of 0.48. The company has a 50 day moving average price of $23.89 and a 200 day moving average price of $25.42. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The firm had revenue of $135.41 million during the quarter, compared to analyst estimates of $129.27 million. During the same period last year, the firm posted $0.14 EPS. Corcept Therapeutics’s revenue was up 31.4% on a year-over-year basis. As a group, research analysts anticipate that Corcept Therapeutics will post 0.92 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at approximately $176,124. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The disclosure for this sale can be found here. Insiders sold a total of 83,783 shares of company stock valued at $2,118,996 in the last three months. 18.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC acquired a new stake in Corcept Therapeutics during the 3rd quarter worth $27,000. FNY Investment Advisers LLC acquired a new stake in Corcept Therapeutics during the 4th quarter worth $32,000. Gladius Capital Management LP acquired a new stake in Corcept Therapeutics during the 4th quarter worth $36,000. GAMMA Investing LLC boosted its stake in Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter worth $45,000. 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.