HC Wainwright Has Optimistic Outlook of CORT Q3 Earnings

Key Points

• HC Wainwright turned more bullish on Corcept Therapeutics, raising its Q3 2026 EPS estimate to $0.34 from $0.33 and maintaining a Buy rating with a $95 price target. The firm also lifted its full-year 2026 EPS forecast to $0.80.
• Corcept’s latest quarterly results were weak, with the company reporting a loss of $0.30 per share versus expectations for a smaller loss. Revenue came in at $164.9 million, below the consensus estimate of $185.83 million, though it was still up 4.9% year over year.
• Sentiment around the stock has improved as multiple analysts raised targets, including Canaccord Genuity to $135. The article also notes Corcept’s plan to resubmit the NDA for relacorilant in Cushing’s syndrome, which could be an important future catalyst.

Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) - Stock analysts at HC Wainwright raised their Q3 2026 earnings per share (EPS) estimates for shares of Corcept Therapeutics in a note issued to investors on Thursday, May 28th. HC Wainwright analyst S. Ramakanth now forecasts that the biotechnology company will post earnings per share of $0.34 for the quarter, up from their prior forecast of $0.33. HC Wainwright has a "Buy" rating and a $95.00 price objective on the stock. The consensus estimate for Corcept Therapeutics' current full-year earnings is $0.52 per share. HC Wainwright also issued estimates for Corcept Therapeutics' Q4 2026 earnings at $0.74 EPS and FY2026 earnings at $0.80 EPS.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The company had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS.

Several other brokerages also recently issued reports on CORT. Piper Sandler raised their price target on Corcept Therapeutics from $73.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $110.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday. Truist Financial raised Corcept Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. UBS Group set a $135.00 price target on Corcept Therapeutics in a report on Thursday. Finally, Wolfe Research raised Corcept Therapeutics from an "underperform" rating to a "peer perform" rating in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Corcept Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $88.83.

Corcept Therapeutics Trading Up 2.6%

Shares of NASDAQ CORT opened at $68.38 on Friday. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 195.38 and a beta of 0.36. Corcept Therapeutics has a 12-month low of $28.66 and a 12-month high of $91.00. The stock's 50 day simple moving average is $47.30 and its 200 day simple moving average is $52.18.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds have recently modified their holdings of CORT. Torren Management LLC acquired a new position in shares of Corcept Therapeutics during the 4th quarter valued at $25,000. Advisory Services Network LLC acquired a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $25,000. Clearstead Advisors LLC grew its holdings in shares of Corcept Therapeutics by 163.6% in the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company's stock worth $26,000 after acquiring an additional 193 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Corcept Therapeutics in the 4th quarter worth $31,000. Finally, State of Wyoming grew its holdings in shares of Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 186 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $51.83, for a total transaction of $1,036,600.00. Following the transaction, the insider directly owned 2,231 shares in the company, valued at approximately $115,632.73. This trade represents a 89.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G Leonard Baker, Jr. purchased 100,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $33.14 per share, for a total transaction of $3,314,000.00. Following the completion of the transaction, the director owned 1,146,631 shares in the company, valued at $37,999,351.34. This trade represents a 9.55% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 86,198 shares of company stock worth $3,887,769. 20.70% of the stock is owned by company insiders.

Key Stories Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Canaccord Genuity raised its price target on Corcept Therapeutics to $135 from $110 and maintained a buy rating, signaling stronger upside expectations for Corcept Therapeutics NASDAQ: CORT Given New $135.00 Price Target at Canaccord Genuity Group
• Positive Sentiment: HC Wainwright also lifted its valuation, increasing its price target to $95 and raising EPS forecasts for Q3, Q4, and full-year 2026, reflecting higher profit expectations for Corcept. HC Wainwright analyst note
• Positive Sentiment: Corcept said it plans to resubmit the NDA for relacorilant in Cushing’s syndrome, which investors appear to view as a key step toward a potential future approval and revenue opportunity. Corcept to Resubmit its New Drug Application for Relacorilant as a Treatment for Patients with Cushing’s Syndrome
• Neutral Sentiment: Stockholders approved an expanded incentive plan and board-related matters at the annual meeting, a routine governance update with limited direct near-term impact on the stock. Corcept stockholders approve expanded incentive plan and board
• Negative Sentiment: There were also references to Corcept’s prior earnings miss, which still hangs over sentiment, though the newer analyst revisions suggest investors are focusing more on future growth than the last quarter’s results.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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