Corcept Therapeutics’ (CORT) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a report issued on Thursday, Benzinga reports. HC Wainwright currently has a $80.00 price target on the biotechnology company’s stock. 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.

Several other equities analysts have also commented on the company. Piper Sandler raised their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Canaccord Genuity Group restated a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, Truist Financial increased their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $47.62 on Thursday. The company has a market capitalization of $4.98 billion, a P/E ratio of 37.79 and a beta of 0.46. The company’s 50-day simple moving average is $42.40 and its two-hundred day simple moving average is $34.64. Corcept Therapeutics has a one year low of $20.84 and a one year high of $50.07.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million for 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%. Corcept Therapeutics’s revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, research analysts expect that Corcept Therapeutics will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their position. 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 William Guyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction 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 approximately $213,176.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were 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 directly owns 22,772 shares in the company, 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 worth $972,817 in the last 90 days. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in shares of Corcept Therapeutics by 2.0% in the third quarter. Assetmark Inc. now owns 63,311 shares of the biotechnology company’s stock worth $2,930,000 after buying an additional 1,235 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in Corcept Therapeutics during the third quarter valued at approximately $963,000. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics in the third quarter valued at approximately $25,000. M&G PLC purchased a new stake in Corcept Therapeutics in the 3rd quarter worth approximately $11,173,000. Finally, QRG Capital Management Inc. boosted its position in Corcept Therapeutics by 8.0% in the 3rd quarter. QRG Capital Management Inc. now owns 90,202 shares of the biotechnology company’s stock worth $4,175,000 after purchasing an additional 6,691 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

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.