Truist Financial Raises Corcept Therapeutics (NASDAQ:CORT) Price Target to $44.00

Corcept Therapeutics (NASDAQ:CORT) had its price objective upped by Truist Financial from $42.00 to $44.00 in a research report released on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the biotechnology company’s stock.

A number of other equities analysts have also commented on CORT. HC Wainwright reaffirmed a buy rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, April 23rd. StockNews.com raised Corcept Therapeutics from a buy rating to a strong-buy rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of Buy and a consensus price target of $40.10.

Corcept Therapeutics Trading Down 2.2 %

Shares of Corcept Therapeutics stock traded down $0.54 on Thursday, reaching $24.52. 1,698,297 shares of the company were exchanged, compared to its average volume of 1,197,694. Corcept Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $34.28. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 23.13 and a beta of 0.50. The stock has a fifty day moving average price of $23.97 and a 200-day moving average price of $25.20.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. The firm had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $141.19 million. During the same quarter last year, the business posted $0.14 EPS. Corcept Therapeutics’s revenue was up 38.9% on a year-over-year basis. On average, equities analysts anticipate that Corcept Therapeutics will post 0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Sean Maduck sold 27,068 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the transaction, the insider now owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the completion of the transaction, the insider now owns 7,314 shares in the company, valued at $190,164. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the sale, the insider now directly owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The disclosure for this sale can be found here. Insiders have sold 81,583 shares of company stock worth $2,070,596 over the last 90 days. Corporate insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several large investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC grew its holdings in Corcept Therapeutics by 318.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,348 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its position in shares of Corcept Therapeutics by 60.0% during the first quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the biotechnology company’s stock worth $2,116,000 after purchasing an additional 31,500 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Corcept Therapeutics during the first quarter valued at approximately $706,000. BNP Paribas Financial Markets increased its holdings in shares of Corcept Therapeutics by 199.0% in the first quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock valued at $5,330,000 after purchasing an additional 140,815 shares in the last quarter. Finally, Norden Group LLC bought a new position in Corcept Therapeutics in the 1st quarter worth approximately $2,943,000. 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.