Corcept Therapeutics (NASDAQ:CORT) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a buy rating to a strong-buy rating in a research report released on Thursday.

A number of other brokerages also recently weighed in on CORT. HC Wainwright reaffirmed a buy rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, April 23rd. Truist Financial raised their target price on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a buy rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $39.30.

Corcept Therapeutics Trading Up 2.7 %

CORT stock opened at $22.80 on Thursday. The firm has a 50 day moving average of $23.81 and a 200-day moving average of $25.35. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $34.28. The firm has a market capitalization of $2.37 billion, a P/E ratio of 24.00 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 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 analyst estimates of $129.27 million. During the same period last year, the business earned $0.14 earnings per share. Corcept Therapeutics’s revenue was up 31.4% compared to the same quarter last year. Sell-side analysts predict that Corcept Therapeutics will post 0.92 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 transaction of $702,955.96. Following the transaction, the insider now directly owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 over the last three months. 19.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Corcept Therapeutics during the third quarter worth approximately $4,726,000. Allspring Global Investments Holdings LLC increased its stake in shares of Corcept Therapeutics by 351.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 83,697 shares of the biotechnology company’s stock worth $2,280,000 after buying an additional 65,148 shares during the period. HighTower Advisors LLC purchased a new position in shares of Corcept Therapeutics in the third quarter worth $580,000. Linden Thomas Advisory Services LLC increased its stake in shares of Corcept Therapeutics by 1.0% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company’s stock worth $1,841,000 after buying an additional 555 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of Corcept Therapeutics in the third quarter worth $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.