Brokers Issue Forecasts for CORT FY2029 Earnings

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Equities research analysts at HC Wainwright issued their FY2029 earnings per share estimates for Corcept Therapeutics in a research note issued to investors on Tuesday, February 11th. HC Wainwright analyst S. Ramakanth anticipates that the biotechnology company will earn $8.84 per share for the year. HC Wainwright currently has a “Buy” rating and a $80.00 target price on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.36 per share.

Several other research firms have also recently weighed in on CORT. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $88.25.

Corcept Therapeutics Stock Up 0.8 %

NASDAQ:CORT opened at $68.11 on Wednesday. The business’s fifty day moving average price is $57.27 and its 200 day moving average price is $48.73. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 54.06 and a beta of 0.58. 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 1-year low of $20.84 and a 1-year high of $71.29.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CORT. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics during the third quarter worth about $25,000. Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $27,000. USA Financial Formulas bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth about $54,000. Newbridge Financial Services Group Inc. bought a new position in Corcept Therapeutics during the 4th quarter valued at about $58,000. Finally, Principal Securities Inc. grew its stake in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after buying an additional 483 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This represents a 18.99 % 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 this hyperlink. Also, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the sale, the insider now directly owns 8,494 shares of the company’s stock, valued at approximately $481,779.68. This trade represents a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,811 shares of company stock worth $1,329,832 over the last 90 days. Insiders own 20.50% 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.