Corcept Therapeutics (NASDAQ:CORT) Stock Price Expected to Rise, HC Wainwright Analyst Says

Corcept Therapeutics (NASDAQ:CORT) had its price objective raised by research analysts at HC Wainwright from $115.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 48.02% from the company’s current price.

CORT has been the topic of several other research reports. Piper Sandler increased their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded up $46.71 during trading hours on Monday, reaching $101.34. 8,530,282 shares of the stock were exchanged, compared to its average volume of 1,028,395. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $109.27. The stock has a 50 day moving average of $61.89 and a two-hundred day moving average of $54.74. The company has a market cap of $10.69 billion, a P/E ratio of 80.45 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Equities analysts expect that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 1,974 shares of Corcept Therapeutics stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.83, for a total transaction of $120,078.42. Following the completion of the transaction, the chief executive officer now owns 3,017,437 shares of the company’s stock, valued at $183,550,692.71. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Douglas Lyon sold 421 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the completion of the transaction, the insider now directly owns 9,009 shares of the company’s stock, valued at approximately $545,765.22. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,022 shares of company stock worth $2,703,257. 20.50% of the stock is owned by company insiders.

Institutional Trading of Corcept Therapeutics

Several hedge funds have recently added to or reduced their stakes in CORT. Vanguard Group Inc. lifted its position in shares of Corcept Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock worth $509,726,000 after purchasing an additional 109,294 shares during the period. Parallel Advisors LLC raised its stake in shares of Corcept Therapeutics by 0.4% in the fourth quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company’s stock worth $192,975,000 after purchasing an additional 15,908 shares during the last quarter. State Street Corp boosted its stake in shares of Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after buying an additional 19,893 shares during the last quarter. Geode Capital Management LLC grew its position in Corcept Therapeutics by 4.4% during the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after buying an additional 99,470 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company’s stock worth $82,889,000 after purchasing an additional 64,321 shares during the period. 93.61% of the stock is owned by institutional investors.

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.