Corcept Therapeutics (NASDAQ:CORT) Given New $40.00 Price Target at HC Wainwright

Corcept Therapeutics (NASDAQ:CORT) had its target price boosted by HC Wainwright from $38.00 to $40.00 in a report released on Thursday morning, Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Corcept Therapeutics’ Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.95 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.36 EPS and Q4 2025 earnings at $0.41 EPS.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Corcept Therapeutics from a buy rating to a strong-buy rating in a research note on Thursday, April 25th. Truist Financial upped their price target on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the company a buy rating in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has an average rating of Buy and an average target price of $40.10.

Corcept Therapeutics Stock Down 2.2 %

CORT opened at $24.52 on Thursday. The business’s fifty day simple moving average is $23.97 and its 200 day simple moving average is $25.18. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $34.28. The stock has a market cap of $2.55 billion, a PE ratio of 23.13 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $146.80 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS. As a group, equities 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 firm’s stock in a transaction 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 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 through this hyperlink. 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 stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the sale, the insider now owns 74,455 shares in the company, valued at approximately $1,933,596.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were 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 $176,124. The disclosure for this sale can be found here. Insiders sold 81,583 shares of company stock worth $2,070,596 in the last three months. 20.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CORT. FinTrust Capital Advisors LLC purchased a new position in shares of Corcept Therapeutics during the third quarter valued at about $27,000. GAMMA Investing LLC boosted its position in 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 acquiring 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 worth approximately $32,000. Gladius Capital Management LP bought a new position in shares of Corcept Therapeutics in the 4th quarter worth approximately $36,000. Finally, Planned Solutions Inc. purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at approximately $45,000. 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.