HC Wainwright Boosts Corcept Therapeutics (NASDAQ:CORT) Price Target to $45.00

Corcept Therapeutics (NASDAQ:CORT) had its price target increased by HC Wainwright from $40.00 to $45.00 in a research report sent to investors on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Corcept Therapeutics’ Q3 2024 earnings at $0.27 EPS, Q4 2024 earnings at $0.28 EPS, FY2024 earnings at $1.12 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.43 EPS, Q4 2025 earnings at $0.47 EPS, FY2025 earnings at $1.65 EPS, FY2026 earnings at $1.97 EPS, FY2027 earnings at $2.38 EPS and FY2028 earnings at $2.67 EPS.

Other analysts have also recently issued reports about the company. StockNews.com cut Corcept Therapeutics from a strong-buy rating to a buy rating in a report on Friday, May 3rd. Truist Financial restated a buy rating and issued a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. Finally, Piper Sandler boosted their target price on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the stock an overweight rating in a report on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and an average price target of $46.70.

Corcept Therapeutics Trading Down 1.9 %

Shares of CORT opened at $37.94 on Tuesday. The business’s 50 day moving average is $31.85 and its 200 day moving average is $26.79. The company has a market capitalization of $3.96 billion, a PE ratio of 37.05 and a beta of 0.44. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $39.75.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. Equities research analysts predict that Corcept Therapeutics will post 1.03 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 50,000 shares of Corcept Therapeutics stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the transaction, the insider now directly owns 85,222 shares of the company’s stock, valued at $2,386,216. The disclosure for this sale can be found here. Insiders have sold a total of 82,627 shares of company stock worth $2,374,186 in the last three months. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several large investors have recently added to or reduced their stakes in CORT. Boston Trust Walden Corp boosted its position in Corcept Therapeutics by 1.1% in the 4th quarter. Boston Trust Walden Corp now owns 1,846,924 shares of the biotechnology company’s stock valued at $59,988,000 after buying an additional 19,877 shares during the period. Nisa Investment Advisors LLC boosted its position in Corcept Therapeutics by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 500 shares during the period. Mutual of America Capital Management LLC boosted its position in Corcept Therapeutics by 33.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 144,972 shares of the biotechnology company’s stock valued at $4,709,000 after buying an additional 36,255 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Corcept Therapeutics in the 4th quarter valued at about $1,468,000. Finally, Strs Ohio boosted its position in Corcept Therapeutics by 585.0% in the 4th quarter. Strs Ohio now owns 13,700 shares of the biotechnology company’s stock valued at $444,000 after buying an additional 11,700 shares during the period. 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.