Corcept Therapeutics (NASDAQ:CORT) Downgraded to “Buy” at StockNews.com

StockNews.com lowered shares of Corcept Therapeutics (NASDAQ:CORT) from a strong-buy rating to a buy rating in a research note published on Friday.

Other equities research analysts have also issued research reports about the company. Truist Financial increased their price target on Corcept Therapeutics from $42.00 to $44.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. HC Wainwright lifted their target price on Corcept Therapeutics from $38.00 to $40.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $40.10.

Corcept Therapeutics Stock Down 2.2 %

Shares of NASDAQ CORT opened at $23.97 on Friday. The firm’s 50-day moving average price is $23.99 and its 200-day moving average price is $25.15. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $34.28. The company has a market cap of $2.50 billion, a PE ratio of 22.61 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. The company had revenue of $146.80 million for the quarter, compared to the consensus estimate of $141.19 million. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. Corcept Therapeutics’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. As a group, equities research analysts anticipate that Corcept Therapeutics will post 0.97 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other news, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the transaction, the insider now directly owns 74,455 shares in the company, valued at $1,933,596.35. The disclosure for this sale can be found here. Insiders have sold a total of 92,413 shares of company stock valued at $2,352,176 over the last ninety days. 20.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC purchased a new position in Corcept Therapeutics during the 3rd quarter worth approximately $27,000. GAMMA Investing LLC raised its holdings in shares of Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Corcept Therapeutics during the fourth quarter valued at $32,000. Gladius Capital Management LP purchased a new stake in Corcept Therapeutics in the fourth quarter valued at $36,000. Finally, Planned Solutions Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter worth about $45,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

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.