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

Key Points

• Corcept Therapeutics (NASDAQ:CORT) has received a "buy" rating from HC Wainwright, with a price target of $145.00, suggesting a potential upside of 83.43%.
• The company reported a 29% increase in EPS compared to the previous year, with $0.29 EPS for the last quarter, exceeding expectations by $0.06.
• Insider sales have been significant, with insiders selling a total of 292,451 shares in the last three months, indicating potential concerns about the stock's performance.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $145.00 price objective on the biotechnology company's stock. HC Wainwright's price target points to a potential upside of 83.43% from the stock's current price.

CORT has been the subject of a number of other research reports. Piper Sandler lowered their target price on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Canaccord Genuity Group reiterated a "buy" rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Wall Street Zen downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research cut shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $135.25.

Corcept Therapeutics Stock Up 0.5%

NASDAQ:CORT traded up $0.36 during trading hours on Monday, hitting $79.05. 253,040 shares of the stock were exchanged, compared to its average volume of 1,235,300. The company's 50 day moving average is $76.01 and its two-hundred day moving average is $72.99. Corcept Therapeutics has a twelve month low of $42.01 and a twelve month high of $117.33. The company has a market capitalization of $8.33 billion, a P/E ratio of 70.42 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its 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. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The company had revenue of $194.43 million during the quarter, compared to analysts' expectations of $199.40 million. During the same quarter in the previous year, the company posted $0.32 EPS. The business's revenue for the quarter was up 18.7% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 35,007 shares of Corcept Therapeutics stock in a transaction on Friday, August 8th. The shares were sold at an average price of $71.77, for a total transaction of $2,512,452.39. Following the transaction, the insider owned 5,487 shares in the company, valued at approximately $393,801.99. The trade was a 86.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Maduck sold 35,007 shares of Corcept Therapeutics stock in a transaction 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 transaction, the insider owned 7,681 shares in the company, valued at approximately $520,694.99. This trade represents a 82.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 292,451 shares of company stock worth $21,850,930 in the last three months. 20.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors have recently made changes to their positions in CORT. Victory Capital Management Inc. raised its holdings in shares of Corcept Therapeutics by 24.5% in the 1st quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company's stock worth $10,670,000 after acquiring an additional 18,389 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Corcept Therapeutics by 883.0% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company's stock worth $1,443,000 after buying an additional 17,660 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Corcept Therapeutics in the 1st quarter worth approximately $331,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Corcept Therapeutics during the 1st quarter valued at approximately $355,000. Finally, Voya Investment Management LLC grew its position in shares of Corcept Therapeutics by 5.3% during the 1st quarter. Voya Investment Management LLC now owns 234,648 shares of the biotechnology company's stock valued at $26,801,000 after acquiring an additional 11,898 shares during the period. Institutional investors and hedge funds 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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