StockNews.com Upgrades Corcept Therapeutics (NASDAQ:CORT) to “Strong-Buy”

Corcept Therapeutics (NASDAQ:CORT) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts also recently 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. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday. Four research 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, Corcept Therapeutics currently has an average rating of “Buy” and a consensus price target of $39.30.

Corcept Therapeutics Stock Up 2.7 %

Shares of NASDAQ CORT opened at $22.80 on Thursday. The stock’s 50 day moving average price is $23.81 and its two-hundred day moving average price is $25.38. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $34.28. The stock has a market capitalization of $2.37 billion, a P/E ratio of 24.00 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results 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. The business had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The business’s revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. On average, analysts anticipate that Corcept Therapeutics will post 0.92 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at $176,124. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,783 shares of company stock worth $2,118,996. Insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC acquired a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $27,000. GAMMA Investing LLC grew its holdings in Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 579 shares during the period. FNY Investment Advisers LLC bought a new stake in Corcept Therapeutics in the fourth quarter worth about $32,000. Gladius Capital Management LP acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $36,000. Finally, Planned Solutions Inc. bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $45,000. Institutional investors 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.