Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Average Rating of "Buy" by Analysts

Key Points

• Corcept Therapeutics has received an average analyst rating of "Buy" from five firms, with a consensus price target of $135.25 for the next year.
• The company reported earnings of $0.29 per share for the last quarter, exceeding expectations and marking an 18.7% year-over-year increase in revenue.
• Insider sales saw significant transactions, with notable executives selling a total of 221,810 shares valued at over $15 million in the last ninety days.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) has earned a consensus recommendation of "Buy" from the five ratings firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $135.25.

CORT has been the topic of several research reports. Piper Sandler cut their price objective on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Wall Street Zen upgraded Corcept Therapeutics from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $140.00 price target on shares of Corcept Therapeutics in a research note on Thursday, September 25th.

Corcept Therapeutics Stock Up 1.5%

Shares of CORT stock opened at $85.48 on Friday. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 75.65 and a beta of 0.46. The stock has a fifty day moving average of $73.42 and a 200 day moving average of $71.91. 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 issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. The business had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $70.25, for a total value of $351,250.00. Following the completion of the transaction, the insider directly owned 10,066 shares in the company, valued at $707,136.50. This trade represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Guyer sold 20,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $70.49, for a total transaction of $1,409,800.00. Following the sale, the insider directly owned 5,487 shares in the company, valued at $386,778.63. The trade was a 78.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,810 shares of company stock worth $15,542,942. 20.80% of the stock is owned by insiders.

Institutional Trading of Corcept Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CORT. Brooklyn Investment Group raised its stake in Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock valued at $43,000 after buying an additional 186 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Corcept Therapeutics during the second quarter valued at $28,000. Huntington National Bank raised its position in shares of Corcept Therapeutics by 54.0% in the 2nd 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. Covestor Ltd boosted its stake in Corcept Therapeutics by 1,741.2% in the 1st quarter. Covestor Ltd now owns 626 shares of the biotechnology company's stock worth $72,000 after purchasing an additional 592 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in Corcept Therapeutics during the 2nd quarter valued at about $52,000. 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.

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