Corcept Therapeutics (NASDAQ:CORT) Earns Buy Rating from HC Wainwright

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $80.00 target price on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 68.00% from the company’s previous close. HC Wainwright also issued estimates for Corcept Therapeutics’ FY2026 earnings at $3.67 EPS, FY2027 earnings at $4.78 EPS and FY2028 earnings at $5.64 EPS.

A number of other research firms also recently commented on CORT. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Truist Financial upped their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Piper Sandler lifted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Five 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, the company presently has a consensus rating of “Buy” and an average target price of $65.25.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $47.62 on Thursday. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $50.07. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 37.79 and a beta of 0.46. The stock has a 50 day moving average price of $42.14 and a 200 day moving average price of $34.40.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. The business had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a return on equity of 25.53% and a net margin of 22.35%. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. Analysts forecast that Corcept Therapeutics will post 1.12 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total value of $509,080.00. Following the transaction, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider William Guyer sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at $213,176.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the sale, the insider now owns 22,772 shares of the company’s stock, valued at $1,053,888.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,101 shares of company stock valued at $972,817 over the last 90 days. Insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in shares of Corcept Therapeutics by 199.0% during the first quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock valued at $5,330,000 after buying an additional 140,815 shares during the last quarter. Oak Ridge Investments LLC acquired a new position in shares of Corcept Therapeutics in the second quarter valued at about $984,000. State Board of Administration of Florida Retirement System raised its stake in shares of Corcept Therapeutics by 190.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock worth $1,684,000 after purchasing an additional 43,809 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Corcept Therapeutics by 6,252.3% during the first quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock worth $637,000 after purchasing an additional 24,884 shares during the period. Finally, Milestone Asset Management LLC lifted its holdings in shares of Corcept Therapeutics by 47.4% during the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock worth $1,676,000 after purchasing an additional 16,593 shares during the period. Hedge funds and other 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.