HC Wainwright Reiterates “Buy” Rating for Corcept Therapeutics (NASDAQ:CORT)

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating reiterated by HC Wainwright in a report issued on Thursday, Benzinga reports. They currently have a $80.00 price target on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 68.00% from the stock’s current price. HC Wainwright also issued estimates for Corcept Therapeutics’ FY2026 earnings at $3.67 EPS, FY2027 earnings at $4.78 EPS and FY2028 earnings at $5.64 EPS.

Other equities analysts have also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Truist Financial increased their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $65.25.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $47.62 on Thursday. The firm has a market capitalization of $4.98 billion, a P/E ratio of 37.79 and a beta of 0.46. The stock has a 50-day simple moving average of $42.14 and a two-hundred day simple moving average of $34.40. Corcept Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $50.07.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 25.53% and a net margin of 22.35%. The company had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same period last year, the business earned $0.28 earnings per share. Corcept Therapeutics’s quarterly revenue was up 47.7% on a year-over-year basis. As a group, analysts forecast that Corcept Therapeutics will post 1.12 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 3,101 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the transaction, the insider now directly owns 23,190 shares of the company’s stock, valued at approximately $828,114.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the sale, the insider now owns 23,190 shares in the company, valued at approximately $828,114.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the transaction, the insider now directly owns 6,039 shares in the company, valued at $213,176.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,101 shares of company stock valued at $972,817 over the last ninety days. Insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several large investors have recently added to or reduced their stakes in CORT. BNP Paribas Financial Markets boosted its position in shares of Corcept Therapeutics by 199.0% during the 1st quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock valued at $5,330,000 after acquiring an additional 140,815 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Corcept Therapeutics in the 1st quarter valued at about $706,000. Hussman Strategic Advisors Inc. grew its stake in shares of Corcept Therapeutics by 60.0% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the biotechnology company’s stock valued at $2,116,000 after buying an additional 31,500 shares during the period. FinTrust Capital Advisors LLC increased its holdings in shares of Corcept Therapeutics by 318.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,348 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its position in shares of Corcept Therapeutics by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 79,390 shares of the biotechnology company’s stock valued at $2,000,000 after buying an additional 1,435 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

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.