Corcept Therapeutics (NASDAQ:CORT) Stock Rating Reaffirmed by HC Wainwright

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $40.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 28.16% from the stock’s current price.

Several other analysts also recently commented on the stock. Truist Financial raised their target price on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Five 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 $40.10.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $31.21 on Wednesday. The company’s 50 day simple moving average is $25.37 and its 200 day simple moving average is $25.31. Corcept Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $34.28. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 29.44 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The business had revenue of $146.80 million for the quarter, compared to analyst estimates of $141.19 million. During the same quarter last year, the firm earned $0.14 EPS. Corcept Therapeutics’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, analysts predict that Corcept Therapeutics will post 0.95 EPS for the current fiscal year.

Insider Activity

In other news, insider Sean Maduck sold 50,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $28.00, for a total value of $1,400,000.00. Following the sale, the insider now directly owns 85,222 shares in the company, valued at $2,386,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Sean Maduck sold 50,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $28.00, for a total value of $1,400,000.00. Following the sale, the insider now directly owns 85,222 shares in the company, valued at $2,386,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the sale, the insider now owns 7,314 shares in the company, valued at $190,164. The disclosure for this sale can be found here. Insiders have sold 130,372 shares of company stock worth $3,493,515 over the last ninety days. Insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in 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 buying an additional 579 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Corcept Therapeutics during the fourth quarter worth $32,000. Gladius Capital Management LP acquired a new position in Corcept Therapeutics during the fourth quarter worth $36,000. Planned Solutions Inc. bought a new position in Corcept Therapeutics during the fourth quarter worth $45,000. Finally, FinTrust Capital Advisors LLC boosted its position in Corcept Therapeutics by 318.7% during the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,348 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.