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

HC Wainwright reissued their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a research note released on Tuesday, Benzinga reports. HC Wainwright currently has a $38.00 price objective on the biotechnology company’s stock.

Several other brokerages also recently commented on CORT. Truist Financial lifted their target price on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a buy rating in a report on Friday, February 16th. StockNews.com downgraded shares of Corcept Therapeutics from a strong-buy rating to a buy rating in a report on Wednesday, April 17th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Corcept Therapeutics has a consensus rating of Buy and a consensus price target of $39.30.

Corcept Therapeutics Price Performance

Shares of CORT opened at $22.80 on Tuesday. The company has a market capitalization of $2.37 billion, a PE ratio of 24.00 and a beta of 0.48. Corcept Therapeutics has a one year low of $20.84 and a one year high of $34.28. The company’s fifty day moving average price is $23.81 and its 200 day moving average price is $25.38.

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

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the sale, the insider now directly owns 74,455 shares in the company, valued at approximately $1,933,596.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Thursday, February 1st. The shares were 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 through the SEC website. Also, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.97, for a total transaction of $702,955.96. Following the sale, the insider now 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 83,783 shares of company stock worth $2,118,996 in the last ninety days. Insiders own 19.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently made changes to their positions in CORT. Exchange Traded Concepts LLC boosted its position in shares of Corcept Therapeutics by 3,670.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 43,807 shares of the biotechnology company’s stock valued at $1,194,000 after acquiring an additional 42,645 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Corcept Therapeutics by 11.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,881 shares of the biotechnology company’s stock valued at $542,000 after acquiring an additional 2,000 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of Corcept Therapeutics by 0.7% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock valued at $1,529,000 after acquiring an additional 368 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Corcept Therapeutics in the third quarter valued at about $202,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Corcept Therapeutics in the third quarter valued at about $4,726,000. 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.