Corcept Therapeutics (NASDAQ:CORT) Earns "Buy" Rating from HC Wainwright

Key Points

• Corcept Therapeutics has received a "buy" rating from HC Wainwright, with a price target of $145.00, suggesting a potential upside of 64.10% from its current price.
• Despite this positive outlook, the stock has faced mixed ratings from other analysts, including a downgrade from Zacks Research to "strong sell."
• Corcept reported a quarterly EPS of $0.29, exceeding estimates, but its revenue of $194.43 million fell short of the consensus estimate of $199.40 million.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $145.00 price target on the biotechnology company's stock. HC Wainwright's target price would suggest a potential upside of 64.10% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. Wall Street Zen raised shares of Corcept Therapeutics from a "hold" rating to a "buy" rating in a research report on Friday, September 26th. Canaccord Genuity Group restated a "buy" rating and set a $140.00 price target on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Zacks Research lowered shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 1st. Weiss Ratings restated a "hold (c)" rating on shares of Corcept Therapeutics in a research report on Wednesday. Finally, Piper Sandler decreased their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.25.

Corcept Therapeutics Stock Down 0.1%

Shares of CORT stock opened at $88.36 on Friday. The company's fifty day simple moving average is $75.47 and its two-hundred day simple moving average is $72.98. Corcept Therapeutics has a 52 week low of $42.01 and a 52 week high of $117.33. The stock has a market cap of $9.31 billion, a P/E ratio of 78.20 and a beta of 0.46.

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

Insider Activity

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,823 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.51, for a total transaction of $393,110.73. Following the completion of the transaction, the insider owned 10,066 shares in the company, valued at $679,555.66. The trade was a 36.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Maduck sold 35,007 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the sale, the insider owned 7,681 shares of the company's stock, valued at $520,694.99. This represents a 82.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,610 shares of company stock worth $22,713,516. Insiders own 20.80% of the company's stock.

Institutional Trading of Corcept Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CORT. Golden State Wealth Management LLC purchased a new stake in Corcept Therapeutics in the 2nd quarter valued at $28,000. Huntington National Bank increased its stake in Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company's stock valued at $35,000 after buying an additional 168 shares during the period. Brooklyn Investment Group increased its stake in Corcept Therapeutics by 99.5% in the 1st 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 period. Employees Retirement System of Texas acquired a new position in Corcept Therapeutics in the 2nd quarter valued at $52,000. Finally, USA Financial Formulas acquired a new position in Corcept Therapeutics in the 2nd quarter valued at $56,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

About Corcept Therapeutics

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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