Corcept Therapeutics (NASDAQ:CORT) Stock Rating Reaffirmed by HC Wainwright

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $38.00 price target on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 69.04% from the company’s current price.

CORT has been the topic of several other reports. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 17th. Truist Financial boosted their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $39.30.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $22.48 on Tuesday. The business’s 50-day simple moving average is $23.89 and its 200-day simple moving average is $25.42. The firm has a market capitalization of $2.34 billion, a PE ratio of 23.66 and a beta of 0.48. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last issued 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. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The firm had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. Research analysts forecast that Corcept Therapeutics will post 0.92 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics 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 $1,933,596.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics 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 $1,933,596.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Douglas Lyon sold 5,443 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was 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 directly owns 7,314 shares in the company, valued at $190,164. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,783 shares of company stock valued at $2,118,996. 18.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Corcept Therapeutics by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 9,537,532 shares of the biotechnology company’s stock worth $309,779,000 after acquiring an additional 239,887 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 1.2% in the 4th quarter. Parallel Advisors LLC now owns 3,768,245 shares of the biotechnology company’s stock worth $122,393,000 after acquiring an additional 44,762 shares in the last quarter. Norden Group LLC bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at $50,081,000. Boston Trust Walden Corp raised its position in shares of Corcept Therapeutics by 1.1% during the 4th quarter. Boston Trust Walden Corp now owns 1,846,924 shares of the biotechnology company’s stock valued at $59,988,000 after acquiring an additional 19,877 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Corcept Therapeutics by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 900,444 shares of the biotechnology company’s stock valued at $29,246,000 after buying an additional 39,111 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

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.