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

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Thursday, Benzinga reports. They currently have a $80.00 target price on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 70.61% from the company’s previous close.

A number of other brokerages also recently commented on CORT. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Truist Financial boosted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Piper Sandler raised their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $65.25.

Corcept Therapeutics Price Performance

Shares of CORT opened at $46.89 on Thursday. The business’s 50 day simple moving average is $41.60 and its 200-day simple moving average is $34.21. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $50.07. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 44.24 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The company had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Corcept Therapeutics’s revenue was up 47.7% on a year-over-year basis. On average, sell-side analysts expect that Corcept Therapeutics will post 1.12 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 3,101 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the transaction, the insider now owns 23,190 shares in the company, valued at $828,114.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider William Guyer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Charles Robb sold 3,101 shares of Corcept Therapeutics stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the sale, the insider now owns 23,190 shares of the company’s stock, valued at $828,114.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,101 shares of company stock worth $972,817. 20.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors have recently modified their holdings of CORT. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Corcept Therapeutics in the third quarter valued at approximately $36,000. Park Place Capital Corp bought a new stake in Corcept Therapeutics during the 2nd quarter valued at $32,000. Atwood & Palmer Inc. purchased a new stake in shares of Corcept Therapeutics in the 2nd quarter worth $35,000. FinTrust Capital Advisors LLC grew its position in shares of 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 buying an additional 1,348 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 1,147 shares during the period. 93.61% of the stock is owned by hedge funds and other 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.