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

Key Points

• Corcept Therapeutics' stock received a "hold (c)" rating from Weiss Ratings, while other analysts have mixed opinions, with Canaccord Genuity maintaining a "buy" rating and Zacks Research downgrading to "strong sell."
• The company's recent quarterly earnings showed an EPS of $0.29, surpassing expectations, although revenue fell slightly short of forecasts at $194.43 million.
• Insiders have sold significant shares recently, including Joseph Douglas Lyon and Sean Maduck, with a combined total of over $2.1 million in stock sold in the past few days.

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

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group reissued a "buy" rating and issued a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. Zacks Research cut Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 1st. Wall Street Zen raised Corcept Therapeutics from a "hold" rating to a "buy" rating in a report on Friday, September 26th. Finally, Piper Sandler decreased their price objective on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.25.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded down $1.89 during mid-day trading on Wednesday, reaching $88.43. 1,043,587 shares of the company traded hands, compared to its average volume of 934,044. The company's 50 day moving average price is $75.05 and its 200-day moving average price is $72.78. The firm has a market cap of $9.32 billion, a PE ratio of 78.26 and a beta of 0.46. Corcept Therapeutics has a 52 week low of $42.01 and a 52 week high of $117.33.

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

Insider Buying and Selling

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.75, for a total value of $423,750.00. Following the completion of the sale, the insider directly owned 10,277 shares in the company, valued at approximately $870,975.75. This trade represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $85.06, for a total value of $1,701,200.00. Following the completion of the sale, the insider owned 7,904 shares of the company's stock, valued at approximately $672,314.24. This trade represents a 71.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 286,810 shares of company stock valued at $21,071,092 in the last 90 days. 20.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in shares of Corcept Therapeutics in the second quarter worth about $28,000. Huntington National Bank raised its stake in shares of Corcept Therapeutics by 54.0% in the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 168 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock worth $43,000 after purchasing an additional 186 shares during the last quarter. Employees Retirement System of Texas purchased a new position in shares of Corcept Therapeutics in the second quarter worth about $52,000. Finally, USA Financial Formulas purchased a new position in shares of Corcept Therapeutics in the second quarter worth about $56,000. 93.61% of the stock is currently 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.

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