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

Corcept Therapeutics (NASDAQ:CORT) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

Several other research analysts have also commented on the company. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday. Truist Financial increased their price target on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $39.30.

Corcept Therapeutics Stock Up 2.7 %

Shares of NASDAQ CORT opened at $22.80 on Thursday. The firm has a 50-day simple moving average of $23.81 and a 200-day simple moving average of $25.38. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 24.00 and a beta of 0.48. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $135.41 million during 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%. Corcept Therapeutics’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. As a group, equities research analysts expect that Corcept Therapeutics will post 0.92 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total value of $141,518.00. Following the completion of the sale, the insider now directly owns 7,314 shares of the company’s stock, valued at $190,164. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the completion of the transaction, the insider now owns 7,314 shares of the company’s stock, valued at $190,164. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,783 shares of company stock worth $2,118,996. Insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC boosted its stake in shares of Corcept Therapeutics by 3,670.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 43,807 shares of the biotechnology company’s stock valued at $1,194,000 after buying an additional 42,645 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Corcept Therapeutics by 11.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 19,881 shares of the biotechnology company’s stock valued at $542,000 after purchasing an additional 2,000 shares in the last quarter. Linden Thomas Advisory Services LLC lifted 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 worth $1,529,000 after purchasing an additional 368 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Corcept Therapeutics during the third quarter worth $202,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Corcept Therapeutics in the third quarter valued at $4,726,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

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.