Corcept Therapeutics (NASDAQ:CORT) Price Target Raised to $110.00

Corcept Therapeutics (NASDAQ:CORT) had its price target raised by Canaccord Genuity Group from $100.00 to $110.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other research firms also recently weighed in on CORT. HC Wainwright dropped their target price on Corcept Therapeutics from $67.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday. Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. UBS Group started coverage on shares of Corcept Therapeutics in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.67.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $37.60 on Thursday. The firm has a market cap of $4.00 billion, a P/E ratio of 45.85 and a beta of 0.29. The company has a current ratio of 2.92, a quick ratio of 2.85 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a 1-year low of $28.66 and a 1-year high of $117.33. The business’s 50 day moving average is $37.53 and its 200-day moving average is $60.69.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. The firm had revenue of $202.13 million during the quarter, compared to the consensus estimate of $254.94 million. During the same quarter last year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts predict that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Activity

In related news, insider William Guyer sold 11,767 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $36.01, for a total value of $423,729.67. Following the completion of the transaction, the insider owned 2,231 shares of the company’s stock, valued at $80,338.31. The trade was a 84.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director G Leonard Baker, Jr. purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was bought at an average cost of $33.14 per share, with a total value of $3,314,000.00. Following the purchase, the director owned 1,146,631 shares of the company’s stock, valued at $37,999,351.34. This represents a 9.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 86,198 shares of company stock worth $3,552,769. 20.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. Clearstead Advisors LLC boosted its position in shares of Corcept Therapeutics by 163.6% during the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 193 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Corcept Therapeutics by 598.5% in the third quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 395 shares during the last quarter. Larson Financial Group LLC increased its stake in Corcept Therapeutics by 2,326.3% in the third quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 442 shares during the last quarter. Finally, Gould Capital LLC raised its position in Corcept Therapeutics by 50.0% during the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 200 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Key Corcept Therapeutics News

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: FDA approval of Lifyorli (relacorilant) plus nab‑paclitaxel for platinum‑resistant ovarian cancer is a material commercial catalyst that triggered the earlier sharp rally; approval creates a new revenue pathway and is the primary reason investors re‑rated the stock this week. FDA approval report
• Positive Sentiment: Broker/analyst support: Wolfe Research upgraded CORT (from underperform to peer‑perform) and other brokers (Truist, Canaccord) have issued bullish/strong‑buy views or raised targets, which can sustain buying interest as the market models new sales upside. Wolfe Research upgrade
• Neutral Sentiment: Market structure/volatility: trading halts and large intraday prints accompanied the approval-driven move — expect continued high volume and price swings as investors reprice expectations for launch and uptake. Market reaction coverage
• Neutral Sentiment: Consensus/ratings mix: some outlets show a “moderate buy” brokerage consensus; analysts remain mixed on valuation as the market weighs launch potential vs. prior execution and study data. Broker consensus report
• Negative Sentiment: Legal risk: multiple law firms have filed shareholder alerts and class actions alleging that Corcept misled investors about regulatory issues and patent matters; these suits (and the referenced FDA rejection / federal court patent loss claims) create potential liability, discovery risk and distraction for management. Hagens Berman class‑action alert
• Negative Sentiment: Insider selling: a recent disclosed sale by an insider reduced holdings significantly; while not proof of negative outlook, such sales can weigh on sentiment when paired with litigation headlines. Insider sale filing
• Negative Sentiment: Analyst divergence / forecast cuts: some firms have tempered long‑term estimates or issued cautious notes (e.g., a pessimistic forecast from HC Wainwright in recent coverage), underscoring uncertainty around peak sales and reimbursement. HC Wainwright coverage

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.