Corcept Therapeutics (NASDAQ:CORT) Stock Rating Lowered by StockNews.com

Corcept Therapeutics (NASDAQ:CORT) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

CORT has been the topic of several other reports. Truist Financial upped their price objective on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, February 16th. HC Wainwright lowered their price objective on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $37.30.

Corcept Therapeutics Stock Down 1.5 %

Corcept Therapeutics stock opened at $22.66 on Wednesday. The business has a 50 day moving average price of $23.93 and a two-hundred day moving average price of $25.51. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 23.85 and a beta of 0.48. Corcept Therapeutics has a 12 month low of $20.87 and a 12 month high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The company had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. During the same period in the prior year, the company posted $0.14 EPS. The company’s revenue was up 31.4% compared to the same quarter last year. On average, analysts expect that Corcept Therapeutics will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the transaction, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 74,455 shares in the company, valued at approximately $1,933,596.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the transaction, the chief accounting officer now owns 6,774 shares in the company, valued at $176,124. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,783 shares of company stock worth $2,118,996. Insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC lifted its holdings 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 acquiring an additional 368 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Corcept Therapeutics by 0.5% during the third quarter. AQR Capital Management LLC now owns 79,945 shares of the biotechnology company’s stock worth $2,178,000 after acquiring an additional 416 shares in the last quarter. Sei Investments Co. lifted its holdings in Corcept Therapeutics by 3.0% during the second quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock worth $394,000 after acquiring an additional 427 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Corcept Therapeutics by 27.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 448 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Corcept Therapeutics by 9.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 500 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Company Profile

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.