HC Wainwright Raises Corcept Therapeutics (NASDAQ:CORT) Price Target to $40.00

Corcept Therapeutics (NASDAQ:CORT) had its target price increased by HC Wainwright from $38.00 to $40.00 in a research note published on Thursday, Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Corcept Therapeutics’ Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.95 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.36 EPS and Q4 2025 earnings at $0.41 EPS.

A number of other equities research analysts also recently commented on CORT. Truist Financial increased their price objective on Corcept Therapeutics from $42.00 to $44.00 and gave the company a buy rating in a research report on Thursday. StockNews.com upgraded Corcept Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $40.10.

Corcept Therapeutics Stock Down 2.2 %

CORT stock traded down $0.54 during midday trading on Thursday, reaching $24.52. The company had a trading volume of 1,698,297 shares, 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 PE ratio of 23.13 and a beta of 0.50. The stock has a 50 day moving average price of $23.97 and a 200 day moving average price of $25.23.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The firm had revenue of $146.80 million during the quarter, compared to analysts’ expectations of $141.19 million. During the same quarter in the prior year, the firm earned $0.14 EPS. Corcept Therapeutics’s quarterly revenue was up 38.9% on a year-over-year basis. Research analysts predict that Corcept Therapeutics will post 0.98 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CORT. FinTrust Capital Advisors LLC acquired a new stake in shares of Corcept Therapeutics during the third quarter worth approximately $27,000. GAMMA Investing LLC raised its position in Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 579 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Corcept Therapeutics in the fourth quarter worth $32,000. Gladius Capital Management LP bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $36,000. Finally, Planned Solutions Inc. bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $45,000. 93.61% of the stock is currently 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.