Corcept Therapeutics (NASDAQ:CORT) Stock Price Up 6.8% After Analyst Upgrade

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s stock price shot up 6.8% during mid-day trading on Friday after Canaccord Genuity Group raised their price target on the stock from $99.00 to $100.00. Canaccord Genuity Group currently has a buy rating on the stock. Corcept Therapeutics traded as high as $43.23 and last traded at $44.1280. 1,096,772 shares changed hands during trading, a decline of 57% from the average session volume of 2,578,029 shares. The stock had previously closed at $41.30.

A number of other brokerages also recently issued reports on CORT. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. UBS Group initiated coverage on shares of Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 target price on the stock. Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research note on Wednesday, December 31st. Finally, Truist Financial set a $50.00 price objective on Corcept Therapeutics in a research report on Wednesday, December 31st. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Corcept Therapeutics currently has an average rating of “Hold” and an average target price of $83.50.

Insider Buying and Selling

In related news, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction on Monday, December 1st. The shares were sold at an average price of $79.77, for a total transaction of $3,190,800.00. Following the transaction, the chief executive officer owned 2,701,370 shares in the company, valued at approximately $215,488,284.90. The trade was a 1.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Guyer sold 20,000 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $35.18, for a total value of $703,600.00. Following the completion of the sale, the insider owned 1,235 shares of the company’s stock, valued at $43,447.30. The trade was a 94.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 194,500 shares of company stock valued at $14,186,410 in the last 90 days. Corporate insiders own 20.80% of the company’s stock.

Key Stories Impacting Corcept Therapeutics

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

• Positive Sentiment: Phase 3 ROSELLA trial met the overall‑survival primary endpoint: relacorilant combined with nab‑paclitaxel showed a meaningful survival benefit in platinum‑resistant ovarian cancer (reports cite ~35% reduction in risk of death), which is driving renewed investor optimism about relacorilant’s oncology opportunity. Corcept Therapeutics Experimental Lead Drug Cuts Death Risk By 35% In Advanced Ovarian Cancer Patients, Stock Jumps
• Positive Sentiment: Analyst reaction is supportive: Canaccord raised its price target to $100 and kept a Buy rating, signaling institutional confidence that the trial data meaningfully improves Corcept’s mid‑to‑long term upside. CORT: Corcept Therapeutics price target raised by Canaccord
• Neutral Sentiment: Wider press coverage is restoring confidence in relacorilant’s oncology program and bringing fresh attention to the stock; multiple outlets are running stories summarizing the ROSELLA result and its implications. Ovarian cancer data restore faith in Corcept’s relacorilant
• Negative Sentiment: Put buying spiked — investors purchased ~4,870 put contracts (up ~78% vs. typical daily put volume), indicating some market participants are hedging or speculating on downside despite the clinical news.
• Negative Sentiment: Active investor litigation and legacy FDA risk remain material: law firms (Hagens Berman, Pomerantz) have announced investigations into the company tied to the prior FDA complete response letter (CRL) on relacorilant for Cushing’s — these legal and regulatory issues could create near‑term volatility and limit upside despite the ROSELLA win. CORT INVESTIGATION ALERT: Investigation Launched into Corcept Therapeutics (CORT), Hagens Berman Encourages Investors to Contact Firm

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stanley Laman Group Ltd. lifted its position in Corcept Therapeutics by 36.1% in the fourth quarter. Stanley Laman Group Ltd. now owns 33,311 shares of the biotechnology company’s stock worth $1,159,000 after buying an additional 8,828 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $315,000. Nisa Investment Advisors LLC raised its stake in shares of Corcept Therapeutics by 16.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 20,521 shares of the biotechnology company’s stock valued at $714,000 after acquiring an additional 2,877 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Corcept Therapeutics by 111.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 507,967 shares of the biotechnology company’s stock worth $19,404,000 after acquiring an additional 268,155 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Corcept Therapeutics by 1.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 56,946 shares of the biotechnology company’s stock worth $1,982,000 after purchasing an additional 605 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. The company has a market capitalization of $4.63 billion, a P/E ratio of 50.14 and a beta of 0.23. The firm’s fifty day moving average is $65.87 and its 200 day moving average is $71.26.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $207.64 million during the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. As a group, analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

About Corcept Therapeutics

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.