HC Wainwright Reaffirms Buy Rating for Corcept Therapeutics (NASDAQ:CORT)

Key Points

• HC Wainwright reaffirmed its Buy rating on Corcept Therapeutics and set a $165 price target, implying roughly 45% upside from the prior close. The analyst consensus remains “Moderate Buy,” with an average target of $138.17.
• Corcept reported strong quarterly results, including 31.7% year-over-year revenue growth to $256.15 million and EPS of $0.36 versus the $0.02 consensus estimate. The company is also pursuing expansion into ovarian cancer following a favorable European regulatory recommendation for Lifyorli plus nab-paclitaxel.
• Shares traded near $113.84, but the stock carries a very high P/E ratio of about 271. Insiders have sold roughly $50.6 million of shares over the past 90 days, primarily to cover tax obligations tied to vested equity awards.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a report released on Friday, Benzinga reports. They currently have a $165.00 price target on the biotechnology company's stock. HC Wainwright's price target suggests a potential upside of 44.94% from the company's previous close.

Several other analysts have also commented on the stock. Piper Sandler reissued an "overweight" rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Weiss Ratings downgraded shares of Corcept Therapeutics from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, September 8th. Truist Financial began coverage on shares of Corcept Therapeutics in a report on Tuesday, August 18th. They issued a "buy" rating and a $164.00 price target on the stock. Wolfe Research lowered Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 price objective for the company. in a report on Monday, July 27th. Finally, UBS Group set a $135.00 price objective on Corcept Therapeutics in a research report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Corcept Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $138.17.

Corcept Therapeutics Trading Down 0.9%

NASDAQ:CORT traded down $1.02 during midday trading on Friday, hitting $113.84. 444,984 shares of the company traded hands, compared to its average volume of 1,466,214. The firm's fifty day moving average is $108.19 and its 200-day moving average is $74.96. Corcept Therapeutics has a 12-month low of $28.66 and a 12-month high of $126.38. The firm has a market capitalization of $12.31 billion, a P/E ratio of 271.19 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. During the same quarter last year, the firm posted $0.29 earnings per share. The business's revenue was up 31.7% compared to the same quarter last year. On average, research analysts expect that Corcept Therapeutics will post 2.02 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In related news, insider Sean Maduck sold 25,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $114.43, for a total value of $2,860,750.00. Following the completion of the transaction, the insider directly owned 9,755 shares of the company's stock, valued at approximately $1,116,264.65. This represents a 71.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Roberto Vieira sold 58,333 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $110.76, for a total value of $6,460,963.08. Following the completion of the sale, the insider owned 4,242 shares of the company's stock, valued at $469,843.92. This trade represents a 93.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 446,119 shares of company stock worth $50,644,753 in the last ninety days. Company insiders own 20.70% of the company's stock.

Institutional Trading of Corcept Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alberta Investment Management Corp acquired a new position in Corcept Therapeutics during the 2nd quarter worth $9,843,000. BlackRock Inc. acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at about $1,080,964,000. NewEdge Wealth LLC purchased a new position in shares of Corcept Therapeutics in the 2nd quarter valued at about $3,034,000. Avidity Partners Management LP acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth about $766,000. Finally, Evanson Financial LLC acquired a new position in shares of Corcept Therapeutics during the second quarter worth about $1,085,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Corcept Therapeutics

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

• Positive Sentiment: The European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) recommended marketing authorization for Lifyorli plus nab-paclitaxel. The opinion supports Corcept’s expansion into ovarian cancer and could create a new commercial opportunity outside its existing Cushing’s syndrome business. Final approval from the European Commission is still required. Corcept receives CHMP recommendation for Lifyorli
• Positive Sentiment: Zacks Research raised several long-term earnings forecasts, including FY2027 EPS to $2.05 from $1.91 and FY2028 EPS to $4.31 from $4.07. Analysts also increased estimates for select 2026 and 2027 quarters, suggesting improving expectations for Corcept’s growth and pipeline contribution.
• Neutral Sentiment: Corcept previously reported strong quarterly results, with revenue up 31.7% year over year to $256.15 million and EPS of $0.36 versus the $0.02 consensus estimate. However, the stock trades at a very elevated earnings multiple, making it sensitive to profit-taking and changes in growth expectations.
• Negative Sentiment: Director James Wilson sold 10,000 shares for approximately $1.11 million, reducing his direct ownership by 0.93%. A separate insider, Joseph Lyon, also sold 10,000 shares, cutting his position by about 64%. Although insider sales do not necessarily signal deteriorating fundamentals, they can weigh on sentiment, particularly after a substantial share-price advance. Corcept insider selling report

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering and developing medicines that modulate the effects of the stress hormone cortisol. The company's research centers on the glucocorticoid receptor, which regulates cortisol activity and may play a role in metabolic, psychiatric, oncologic and other serious diseases.

Corcept's commercial product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing's syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.

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