Corcept Therapeutics’ (CORT) Buy Rating Reaffirmed at HC Wainwright

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $38.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 60.47% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Truist Financial boosted their price objective on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and a consensus target price of $39.30.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded up $1.38 during mid-day trading on Tuesday, hitting $23.68. The company’s stock had a trading volume of 1,120,343 shares, compared to its average volume of 1,472,014. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 25.23 and a beta of 0.48. The business has a 50 day moving average price of $23.89 and a 200-day moving average price of $25.44. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $135.41 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.14 earnings per share. On average, equities research analysts expect that Corcept Therapeutics will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sean Maduck sold 27,068 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.97, for a total transaction of $702,955.96. Following the sale, the insider now owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the transaction, the insider now owns 74,455 shares in the company, valued at $1,933,596.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 over the last quarter. Corporate insiders own 18.60% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC purchased a new stake in shares of Corcept Therapeutics in the third quarter worth $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Corcept Therapeutics in the fourth quarter worth $32,000. Gladius Capital Management LP purchased a new stake in shares of Corcept Therapeutics in the fourth quarter worth $36,000. GAMMA Investing LLC increased its stake in shares of Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares in the last quarter. Finally, Planned Solutions Inc. purchased a new stake in shares of Corcept Therapeutics in the fourth quarter worth $45,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

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.