Corcept Therapeutics (NASDAQ:CORT) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a report issued on Tuesday morning, Benzinga reports. HC Wainwright currently has a $38.00 price target on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the stock. Truist Financial lifted their price target on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a buy rating in a research report on Friday, February 16th. StockNews.com cut shares of Corcept Therapeutics from a strong-buy rating to a buy rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Corcept Therapeutics has an average rating of Buy and an average price target of $39.30.

Corcept Therapeutics Trading Up 2.7 %

CORT stock opened at $22.80 on Tuesday. The firm has a 50 day moving average of $23.81 and a 200-day moving average of $25.38. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $34.28. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 24.00 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The company had revenue of $135.41 million during the quarter, compared to the consensus estimate of $129.27 million. During the same period last year, the firm earned $0.14 EPS. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. Sell-side analysts forecast that Corcept Therapeutics will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at approximately $176,124. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the sale, the insider now directly owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at $176,124. The disclosure for this sale can be found here. Insiders sold a total of 83,783 shares of company stock valued at $2,118,996 in the last ninety days. Corporate insiders own 19.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CORT. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at $4,726,000. Allspring Global Investments Holdings LLC grew its stake in shares of Corcept Therapeutics by 351.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,697 shares of the biotechnology company’s stock valued at $2,280,000 after buying an additional 65,148 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at $580,000. Linden Thomas Advisory Services LLC grew its stake in shares of Corcept Therapeutics by 1.0% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company’s stock valued at $1,841,000 after buying an additional 555 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at $1,460,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

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.