Corcept Therapeutics (NASDAQ:CORT) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT - Free Report) in a research report released on Tuesday, Benzinga reports. The brokerage currently has a $38.00 price objective on the biotechnology company's stock.

A number of other research firms have also recently weighed in on CORT. StockNews.com cut shares of Corcept Therapeutics from a strong-buy rating to a buy rating in a research note on Wednesday, April 17th. Truist Financial upped their price objective on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a buy rating in a research note on Friday, February 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $39.30.

Corcept Therapeutics Stock Performance

Shares of CORT traded up $0.70 during trading hours on Tuesday, reaching $23.00. 1,885,129 shares of the company traded hands, compared to its average volume of 1,482,379. The stock has a market cap of $2.39 billion, a P/E ratio of 24.26 and a beta of 0.48. The stock's fifty day moving average is $23.89 and its 200 day moving average is $25.44. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $34.28.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. The business had revenue of $135.41 million for the quarter, compared to analysts' expectations of $129.27 million. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The firm's revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, equities research analysts predict that Corcept Therapeutics will post 0.92 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the 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 sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at $176,124. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the firm's stock in a transaction on Friday, February 16th. The shares were 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 of the company's stock, valued at approximately $176,124. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock worth $2,118,996 over the last ninety days. Company insiders own 18.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CORT. Norden Group LLC bought a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $50,081,000. Norges Bank bought a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $24,603,000. Intrinsic Edge Capital Management LLC bought a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $15,164,000. FMR LLC grew its position in shares of Corcept Therapeutics by 102.4% in the 3rd quarter. FMR LLC now owns 683,924 shares of the biotechnology company's stock valued at $18,634,000 after acquiring an additional 346,000 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Corcept Therapeutics by 996.5% in the 3rd quarter. Acadian Asset Management LLC now owns 318,027 shares of the biotechnology company's stock valued at $8,653,000 after acquiring an additional 289,023 shares during the period. 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.