Research Analysts Issue Forecasts for CORT FY2029 Earnings

Corcept Therapeutics Incorporated (NASDAQ:CORT) – Equities researchers at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Corcept Therapeutics in a report issued on Tuesday, February 11th. HC Wainwright analyst S. Ramakanth expects that the biotechnology company will earn $8.84 per share for the year. HC Wainwright currently has a “Buy” rating and a $80.00 price objective on the stock. The consensus estimate for Corcept Therapeutics’ current full-year earnings is $1.36 per share.

Several other research analysts have also weighed in on CORT. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Finally, Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $88.25.

Corcept Therapeutics Stock Up 0.8 %

Shares of NASDAQ:CORT opened at $68.11 on Wednesday. The firm has a market cap of $7.14 billion, a PE ratio of 54.06 and a beta of 0.58. The company has a fifty day simple moving average of $57.27 and a 200 day simple moving average of $48.73. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $71.29.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics in the third quarter worth approximately $25,000. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $27,000. USA Financial Formulas purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at $54,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $58,000. Finally, Principal Securities Inc. raised its holdings in Corcept Therapeutics by 63.6% during the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after buying an additional 483 shares during the period. Institutional investors own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total transaction of $111,188.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,811 shares of company stock worth $1,329,832. 20.50% of the stock is currently owned by insiders.

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.