Corcept Therapeutics (NASDAQ:CORT) Upgraded at StockNews.com

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

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

Corcept Therapeutics Stock Up 2.7 %

Shares of CORT stock opened at $22.80 on Thursday. The stock has a market cap of $2.37 billion, a PE ratio of 24.00 and a beta of 0.48. The business has a 50-day simple moving average of $23.81 and a 200-day simple moving average of $25.32. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $34.28.

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

Insiders Place Their Bets

In other news, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the sale, the insider now directly owns 74,455 shares in the company, valued at $1,933,596.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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. In the last three months, insiders sold 83,783 shares of company stock worth $2,118,996. Corporate insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its stake in Corcept Therapeutics by 3,670.0% during the third quarter. Exchange Traded Concepts LLC now owns 43,807 shares of the biotechnology company’s stock worth $1,194,000 after purchasing an additional 42,645 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Corcept Therapeutics by 11.2% during the third quarter. Handelsbanken Fonder AB now owns 19,881 shares of the biotechnology company’s stock worth $542,000 after purchasing an additional 2,000 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in Corcept Therapeutics by 0.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock worth $1,529,000 after purchasing an additional 368 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Corcept Therapeutics during the third quarter worth $202,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Corcept Therapeutics during the third quarter worth $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.