Corcept Therapeutics’ (CORT) “Buy” Rating Reaffirmed at HC Wainwright

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

Several other research analysts have also recently issued reports on the company. Truist Financial increased their price objective on 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 cut Corcept Therapeutics from a strong-buy rating to a buy rating in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $39.30.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $22.21 on Tuesday. The stock has a fifty day moving average price of $23.86 and a two-hundred day moving average price of $25.40. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 23.74 and a beta of 0.48. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $34.28.

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, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $135.41 million during the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. Corcept Therapeutics’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. On average, analysts predict that Corcept Therapeutics will post 0.92 EPS for the current year.

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the sale, the insider now 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. Insiders sold a total of 83,783 shares of company stock worth $2,118,996 over the last 90 days. 19.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Corcept Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in Corcept Therapeutics in the 3rd quarter worth about $4,726,000. Allspring Global Investments Holdings LLC boosted its stake in Corcept Therapeutics by 351.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,697 shares of the biotechnology company’s stock worth $2,280,000 after buying an additional 65,148 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Corcept Therapeutics in the 3rd quarter worth about $580,000. Linden Thomas Advisory Services LLC boosted its stake in Corcept Therapeutics by 1.0% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company’s stock worth $1,841,000 after buying an additional 555 shares during the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in Corcept Therapeutics in the 3rd quarter worth about $1,460,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.