HC Wainwright Lowers Corcept Therapeutics (NASDAQ:CORT) Price Target to $145.00

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) had its price target lowered by HC Wainwright from $150.00 to $145.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock. HC Wainwright's price target suggests a potential upside of 96.10% from the stock's current price.

Several other equities analysts have also commented on CORT. Truist Financial raised their target price on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Canaccord Genuity Group upped their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Finally, Piper Sandler lifted their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $142.00.

Corcept Therapeutics Stock Performance

CORT opened at $73.94 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a 12-month low of $23.02 and a 12-month high of $117.33. The business has a 50 day moving average of $65.91 and a 200-day moving average of $60.34. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 58.68 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same period in the prior year, the firm posted $0.25 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph K. Belanoff sold 2,924 shares of Corcept Therapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the transaction, the chief executive officer now directly owns 3,019,411 shares in the company, valued at $183,912,324.01. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 229,678 shares of company stock worth $19,951,609. 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. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $27,000. Canada Pension Plan Investment Board acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $40,000. National Bank of Canada FI bought a new position in shares of Corcept Therapeutics in the 4th quarter worth $42,000. USA Financial Formulas acquired a new stake in Corcept Therapeutics in the 4th quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Corcept Therapeutics during the 4th quarter valued at $58,000. Institutional investors and hedge funds 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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