Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Corcept Therapeutics a “Moderate Buy”: Five of eight covering firms recommend buying, two rate it hold, and one recommends selling. Their average 12-month price target is $139.50.
• Corcept beat quarterly earnings expectations, reporting $1.01 EPS versus a $0.84 estimate, while revenue rose 64% year over year to $340.47 million.
• Insiders have sold significant shares, and HC Wainwright lowered several future EPS estimates despite maintaining a Buy rating and $165 price target.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $139.50.

A number of equities research analysts have commented on the stock. Zacks Research cut shares of Corcept Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 27th. Weiss Ratings raised Corcept Therapeutics from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday. Truist Financial assumed coverage on Corcept Therapeutics in a research note on Tuesday, August 18th. They set a "buy" rating and a $164.00 target price for the company. Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Finally, Wall Street Zen raised Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 1st.

Insider Buying and Selling

In related news, insider Joseph Lyon sold 9,190 shares of the firm's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $116.13, for a total value of $1,067,234.70. Following the completion of the sale, the insider owned 5,683 shares in the company, valued at $659,966.79. This trade represents a 61.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Roberto Vieira sold 8,333 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $80.89, for a total transaction of $674,056.37. Following the completion of the sale, the insider directly owned 3,946 shares in the company, valued at approximately $319,191.94. This trade represents a 67.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 382,536 shares of company stock worth $43,406,554. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CORT. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $27,000. Provenance Wealth Advisors LLC purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $38,000. Fulcrum Asset Management LLP boosted its position in shares of Corcept Therapeutics by 520.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 571 shares of the biotechnology company's stock valued at $66,000 after purchasing an additional 479 shares during the period. Root Financial Partners LLC acquired a new position in shares of Corcept Therapeutics in the third quarter worth $85,000. Finally, State of Wyoming lifted its stake in shares of Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

CORT opened at $72.77 on Friday. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 57.30 and a beta of 0.54. The stock's 50 day moving average price is $107.58 and its 200-day moving average price is $75.65. Corcept Therapeutics has a one year low of $28.66 and a one year high of $126.38.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.17. The business had revenue of $340.47 million during the quarter, compared to analysts' expectations of $339.12 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company's revenue for the quarter was up 64.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 EPS. As a group, analysts predict that Corcept Therapeutics will post 1.97 earnings per share for the current fiscal year.

Key Headlines Impacting Corcept Therapeutics

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

• Positive Sentiment: HC Wainwright maintained its Buy rating and $165 price target, while projecting substantial longer-term earnings growth, including $6.76 per share in FY2028 and $12.92 in FY2030. HC Wainwright recommendations
• Negative Sentiment: HC Wainwright lowered EPS estimates across several upcoming quarters and years: FY2026 to $2.05 from $2.15 and FY2027 to $3.39 from $3.95, with cuts also to its Q4 2026 and 2027 quarterly forecasts. These downward revisions may temper expectations despite the analyst’s bullish rating. HC Wainwright recommendations
• Negative Sentiment: Insiders Roberto Vieira and Sean Maduck sold substantial portions of their holdings in transactions disclosed this week. Insider sales can raise investor concerns, though they do not necessarily reflect the company’s outlook. Insider selling report

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated NASDAQ: CORT is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company's research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept's primary marketed 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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