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

Corcept Therapeutics (NASDAQ:CORT) had its price objective upped by HC Wainwright from $38.00 to $40.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Corcept Therapeutics’ Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.95 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.36 EPS and Q4 2025 earnings at $0.41 EPS.

CORT has been the topic of a number of other research reports. Truist Financial upped their target price on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the stock a buy rating in a report on Thursday. StockNews.com raised shares of Corcept Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and an average target price of $40.10.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock traded down $0.54 during trading hours on Thursday, reaching $24.52. The company had a trading volume of 1,698,297 shares, compared to its average volume of 1,197,694. The firm has a market cap of $2.55 billion, a PE ratio of 23.13 and a beta of 0.50. Corcept Therapeutics has a one year low of $20.84 and a one year high of $34.28. The business has a fifty day simple moving average of $23.97 and a 200 day simple moving average of $25.20.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. The business had revenue of $146.80 million during the quarter, compared to the consensus estimate of $141.19 million. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, research analysts forecast that Corcept Therapeutics will post 0.97 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 27,068 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $1,933,596.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the sale, the insider now owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the transaction, 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 owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently made changes to their positions in CORT. FinTrust Capital Advisors LLC purchased a new stake in Corcept Therapeutics during the 3rd quarter valued at about $27,000. FNY Investment Advisers LLC bought a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $32,000. Gladius Capital Management LP purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $36,000. GAMMA Investing LLC grew its holdings 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 during the last quarter. Finally, Planned Solutions Inc. purchased a new position in shares of Corcept Therapeutics in the fourth quarter worth $45,000. 93.61% of the stock is currently owned by 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.