Corcept Therapeutics (NASDAQ:CORT) PT Raised to $80.00 at HC Wainwright

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) had its price target boosted by analysts at HC Wainwright from $45.00 to $80.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. HC Wainwright's price target points to a potential upside of 60.80% from the stock's current price.

Several other brokerages have also recently issued reports on CORT. Piper Sandler boosted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a research note on Wednesday, September 18th. Canaccord Genuity Group reiterated a "buy" rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Finally, Truist Financial increased their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $65.25.

Corcept Therapeutics Trading Up 5.5 %

CORT stock traded up $2.58 during trading hours on Friday, hitting $49.75. 3,004,740 shares of the stock were exchanged, compared to its average volume of 1,187,827. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $50.07. The firm has a market capitalization of $5.18 billion, a P/E ratio of 46.93 and a beta of 0.46. The company has a 50-day simple moving average of $39.34 and a two-hundred day simple moving average of $32.76.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.09. The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. Corcept Therapeutics's revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. On average, equities research analysts predict that Corcept Therapeutics will post 1.12 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.71, for a total value of $110,736.71. Following the sale, the insider now owns 23,190 shares in the company, valued at $828,114.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary Charles Robb sold 3,101 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the transaction, the insider now directly owns 23,190 shares of the company's stock, valued at $828,114.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,251 shares of company stock valued at $1,365,292. 20.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norden Group LLC bought a new position in Corcept Therapeutics during the first quarter worth $50,081,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Corcept Therapeutics in the 1st quarter worth about $18,426,000. Jupiter Asset Management Ltd. lifted its stake in shares of Corcept Therapeutics by 1,149.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company's stock valued at $18,753,000 after purchasing an additional 684,863 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $14,670,000. Finally, Vanguard Group Inc. grew its stake in Corcept Therapeutics by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 9,537,532 shares of the biotechnology company's stock worth $309,779,000 after purchasing an additional 239,887 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

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.