Corcept Therapeutics (NASDAQ:CORT) Downgraded by StockNews.com

StockNews.com downgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a strong-buy rating to a buy rating in a research report report published on Friday morning.

Other research analysts also recently issued research reports about the stock. Truist Financial increased their price objective on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the company a buy rating in a research report on Thursday. HC Wainwright increased their price target on Corcept Therapeutics from $38.00 to $40.00 and gave the company a buy rating in a report on Thursday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $40.10.

Corcept Therapeutics Price Performance

CORT stock opened at $24.52 on Friday. The stock has a market capitalization of $2.55 billion, a P/E ratio of 23.13 and a beta of 0.50. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $34.28. The business has a fifty day moving average price of $23.97 and a 200-day moving average price of $25.18.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $146.80 million during the quarter, compared to the consensus estimate of $141.19 million. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. Corcept Therapeutics’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period last year, the company earned $0.14 EPS. As a group, analysts anticipate that Corcept Therapeutics will post 0.97 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the 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 transaction, the insider now directly owns 74,455 shares in the company, valued at $1,933,596.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Sean Maduck sold 27,068 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the sale, the insider now owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 directly owns 6,774 shares in the company, valued at $176,124. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,583 shares of company stock worth $2,070,596. 20.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CORT. FinTrust Capital Advisors LLC bought a new stake in Corcept Therapeutics during the 3rd quarter worth approximately $27,000. GAMMA Investing LLC lifted its stake in shares of Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 579 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at $32,000. Gladius Capital Management LP bought a new position in Corcept Therapeutics in the 4th quarter worth $36,000. Finally, Planned Solutions Inc. bought a new stake in Corcept Therapeutics during the fourth quarter valued at about $45,000. 93.61% of the stock is owned by hedge funds and other 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.