Corcept Therapeutics (NASDAQ:CORT) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $38.00 target price on the biotechnology company’s stock.

Several other research firms also recently issued reports on CORT. Truist Financial upped their price objective on Corcept Therapeutics from $36.00 to $42.00 and gave the company a buy rating in a research note on Friday, February 16th. StockNews.com downgraded shares of Corcept Therapeutics from a strong-buy rating to a buy rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $39.30.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $23.00 on Tuesday. The business has a 50 day moving average of $23.89 and a 200-day moving average of $25.44. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $34.28. The company has a market capitalization of $2.39 billion, a P/E ratio of 24.26 and a beta of 0.48.

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

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,443 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the sale, the insider now owns 7,314 shares of the company’s stock, valued at approximately $190,164. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the sale, the insider now owns 7,314 shares of the company’s stock, valued at approximately $190,164. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the sale, the insider now directly owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,783 shares of company stock valued at $2,118,996. 18.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

A number of large investors have recently modified their holdings of CORT. Milestone Asset Management LLC bought a new position in Corcept Therapeutics during the 1st quarter valued at $882,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Corcept Therapeutics in the 1st quarter worth about $1,262,000. Norden Group LLC purchased a new stake in Corcept Therapeutics in the 1st quarter worth about $50,081,000. Allspring Global Investments Holdings LLC increased its holdings in Corcept Therapeutics by 85.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 126,807 shares of the biotechnology company’s stock worth $3,194,000 after acquiring an additional 58,468 shares during the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in Corcept Therapeutics in the 1st quarter worth about $236,000. 93.61% of the stock is currently owned by institutional investors.

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.