Corcept Therapeutics (NASDAQ:CORT) Price Target Increased to $45.00 by Analysts at HC Wainwright

Corcept Therapeutics (NASDAQ:CORT) had its target price increased by HC Wainwright from $40.00 to $45.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Corcept Therapeutics’ Q3 2024 earnings at $0.27 EPS, Q4 2024 earnings at $0.28 EPS, FY2024 earnings at $1.12 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.43 EPS, Q4 2025 earnings at $0.47 EPS, FY2025 earnings at $1.65 EPS, FY2026 earnings at $1.97 EPS, FY2027 earnings at $2.38 EPS and FY2028 earnings at $2.67 EPS.

A number of other equities research analysts have also recently weighed in on CORT. Truist Financial restated a buy rating and issued a $65.00 price target on shares of Corcept Therapeutics in a report on Monday, June 17th. StockNews.com downgraded Corcept Therapeutics from a strong-buy rating to a buy rating in a research note on Friday, May 3rd. Finally, Piper Sandler increased their price target on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the company an overweight rating in a research report on Tuesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $46.70.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $35.30 on Tuesday. Corcept Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $39.75. The firm has a 50-day simple moving average of $32.05 and a 200-day simple moving average of $26.86. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 33.02 and a beta of 0.44.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The firm had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s revenue was up 39.1% compared to the same quarter last year. Equities research analysts forecast that Corcept Therapeutics will post 1.03 EPS for the current year.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $28.00, for a total value of $1,400,000.00. Following the completion of the transaction, the insider now owns 85,222 shares of the company’s stock, valued at $2,386,216. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $30.21, for a total value of $66,462.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 50,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. Following the sale, the insider now owns 85,222 shares of the company’s stock, valued at $2,386,216. The disclosure for this sale can be found here. Insiders have sold 82,627 shares of company stock valued at $2,374,186 in the last ninety days. Insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Corcept Therapeutics by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after purchasing an additional 28,250 shares in the last quarter. Parallel Advisors LLC grew its position in Corcept Therapeutics by 1.2% in the fourth quarter. Parallel Advisors LLC now owns 3,768,245 shares of the biotechnology company’s stock valued at $122,393,000 after acquiring an additional 44,762 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Corcept Therapeutics during the first quarter valued at approximately $50,081,000. Boston Trust Walden Corp boosted its stake in shares of Corcept Therapeutics by 1.1% in the fourth quarter. Boston Trust Walden Corp now owns 1,846,924 shares of the biotechnology company’s stock valued at $59,988,000 after purchasing an additional 19,877 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Corcept Therapeutics by 4.5% during 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 purchasing an additional 39,111 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

About Corcept Therapeutics

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.