HC Wainwright Increases Corcept Therapeutics (NASDAQ:CORT) Price Target to $40.00

Corcept Therapeutics (NASDAQ:CORT - Free Report) had its price target upped by HC Wainwright from $38.00 to $40.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the biotechnology company's stock.

Several other equities research analysts have also issued reports on the company. StockNews.com upgraded Corcept Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, April 25th. Truist Financial lifted their price target on Corcept Therapeutics from $42.00 to $44.00 and gave the company a buy rating in a report on Thursday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $40.10.

Corcept Therapeutics Trading Up 4.9 %

NASDAQ:CORT traded up $1.18 on Thursday, hitting $25.06. 2,274,450 shares of the company's stock traded hands, compared to its average volume of 1,472,443. The company has a market cap of $2.61 billion, a PE ratio of 26.38 and a beta of 0.50. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $34.28. The firm has a 50-day moving average price of $23.93 and a 200-day moving average price of $25.25.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The business had revenue of $146.80 million during the quarter, compared to analyst estimates of $141.19 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The firm's revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. On average, research analysts forecast that Corcept Therapeutics will post 0.99 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, CAO Joseph Douglas Lyon sold 1,000 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,774 shares in the company, valued at $176,124. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $25.30, for a total value of $55,660.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chief accounting officer now owns 6,774 shares in the company, valued at $176,124. The disclosure for this sale can be found here. Insiders sold a total of 81,583 shares of company stock worth $2,070,596 over the last three months. 20.50% of the stock is currently owned by insiders.

Institutional Trading of Corcept Therapeutics

Several large investors have recently made changes to their positions in CORT. Norden Group LLC bought a new stake in shares of Corcept Therapeutics during the first quarter worth $50,081,000. Norges Bank bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $24,603,000. Intrinsic Edge Capital Management LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $15,164,000. FMR LLC lifted its holdings in shares of Corcept Therapeutics by 102.4% during the 3rd quarter. FMR LLC now owns 683,924 shares of the biotechnology company's stock valued at $18,634,000 after purchasing an additional 346,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Corcept Therapeutics by 2,922.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 324,271 shares of the biotechnology company's stock valued at $8,168,000 after purchasing an additional 313,543 shares in the last quarter. 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.