Corcept Therapeutics' (CORT) "Hold (C)" Rating Reaffirmed at Weiss Ratings

Key Points

• Corcept Therapeutics' stock has been reaffirmed with a "hold (C)" rating by Weiss Ratings, amidst mixed sentiment from other analysts.
• The company's latest earnings report showed a quarterly revenue of $194.43 million, slightly below the estimated $199.40 million, but with an earnings per share (EPS) of $0.29, surpassing expectations.
• Corcept's stock is currently trading at $72.52, down 0.6%, and has experienced a 1-year low of $42.01 and a high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report)'s stock had its "hold (c)" rating reissued by Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

CORT has been the subject of a number of other research reports. HC Wainwright reissued a "buy" rating and set a $145.00 target price on shares of Corcept Therapeutics in a research report on Monday. Piper Sandler reduced their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Canaccord Genuity Group restated a "buy" rating and issued a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Finally, Zacks Research downgraded Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 1st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Corcept Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $135.25.

Corcept Therapeutics Stock Down 0.6%

NASDAQ CORT traded down $0.46 on Friday, hitting $72.52. The company's stock had a trading volume of 456,327 shares, compared to its average volume of 955,200. Corcept Therapeutics has a 1-year low of $42.01 and a 1-year high of $117.33. The company's 50-day moving average is $76.23 and its 200 day moving average is $73.04. The firm has a market cap of $7.64 billion, a PE ratio of 64.18 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. The business had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.Corcept Therapeutics's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, equities analysts expect that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Activity

In other Corcept Therapeutics news, insider Sean Maduck sold 35,007 shares of Corcept Therapeutics stock in a transaction on Friday, August 1st. The shares were sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the transaction, the insider directly owned 7,681 shares of the company's stock, valued at $520,694.99. The trade was a 82.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Guyer sold 35,007 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $71.77, for a total value of $2,512,452.39. Following the completion of the transaction, the insider owned 5,487 shares in the company, valued at $393,801.99. The trade was a 86.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 292,451 shares of company stock valued at $21,850,930 over the last quarter. 20.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MGO One Seven LLC boosted its holdings in shares of Corcept Therapeutics by 17.2% in the 3rd quarter. MGO One Seven LLC now owns 7,198 shares of the biotechnology company's stock worth $598,000 after buying an additional 1,056 shares during the last quarter. Campbell Newman Asset Management Inc. boosted its holdings in shares of Corcept Therapeutics by 0.5% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 35,530 shares of the biotechnology company's stock worth $2,953,000 after buying an additional 170 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 77.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,644 shares of the biotechnology company's stock worth $1,466,000 after buying an additional 7,693 shares during the last quarter. SG Americas Securities LLC boosted its stake in Corcept Therapeutics by 232.0% in the third quarter. SG Americas Securities LLC now owns 9,263 shares of the biotechnology company's stock valued at $770,000 after acquiring an additional 6,473 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its stake in Corcept Therapeutics by 4.1% in the third quarter. KLP Kapitalforvaltning AS now owns 20,200 shares of the biotechnology company's stock valued at $1,679,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.