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

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $38.00 price target on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 60.47% from the stock’s previous close.

CORT has been the subject of a number of other reports. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 17th. Truist Financial boosted their target price on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $39.30.

Corcept Therapeutics Stock Up 6.2 %

Shares of CORT traded up $1.38 during midday trading on Tuesday, reaching $23.68. The company had a trading volume of 1,120,343 shares, compared to its average volume of 1,472,014. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $34.28. The stock has a market cap of $2.46 billion, a PE ratio of 25.23 and a beta of 0.48. The firm has a 50 day simple moving average of $23.89 and a 200-day simple moving average of $25.44.

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

Insiders Place Their Bets

In other news, insider Joseph Douglas Lyon sold 5,443 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total value of $141,518.00. Following the transaction, the insider now owns 7,314 shares of the company’s stock, valued at $190,164. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph Douglas Lyon sold 5,443 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total value of $141,518.00. Following the transaction, the insider now directly owns 7,314 shares in the company, valued at approximately $190,164. The disclosure for this sale can be found here. Insiders have sold a total of 83,783 shares of company stock valued at $2,118,996 over the last quarter. Company insiders own 18.60% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of CORT. Norden Group LLC purchased a new stake in shares of Corcept Therapeutics in the first quarter valued at $50,081,000. Norges Bank acquired a new position in Corcept Therapeutics in the fourth quarter valued at $24,603,000. Intrinsic Edge Capital Management LLC acquired a new position in Corcept Therapeutics in the fourth quarter valued at $15,164,000. FMR LLC increased its stake in Corcept Therapeutics by 102.4% during the third quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock worth $18,634,000 after acquiring an additional 346,000 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Corcept Therapeutics by 996.5% in the 3rd quarter. Acadian Asset Management LLC now owns 318,027 shares of the biotechnology company’s stock worth $8,653,000 after purchasing an additional 289,023 shares during the period. 93.61% of the stock is currently 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.