Corcept Therapeutics' (CORT) "Buy" Rating Reaffirmed at HC Wainwright

Corcept Therapeutics (NASDAQ:CORT - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $80.00 price target on the biotechnology company's stock. HC Wainwright's price objective points to a potential upside of 63.37% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group reiterated a "buy" rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 18th. Finally, Truist Financial boosted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $65.25.

Corcept Therapeutics Price Performance

CORT stock traded up $2.08 during midday trading on Thursday, hitting $48.97. The company's stock had a trading volume of 2,709,627 shares, compared to its average volume of 1,188,019. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $50.07. The company's fifty day moving average price is $41.85 and its 200 day moving average price is $34.29. The stock has a market capitalization of $5.10 billion, a P/E ratio of 46.20 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same period in the previous year, the business earned $0.28 EPS. The company's revenue was up 47.7% compared to the same quarter last year. Equities analysts expect that Corcept Therapeutics will post 1.12 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

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

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its holdings in Corcept Therapeutics by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company's stock valued at $174,000 after purchasing an additional 510 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Corcept Therapeutics by 0.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company's stock valued at $4,138,000 after purchasing an additional 541 shares during the period. Bank of Montreal Can boosted its holdings in Corcept Therapeutics by 5.0% in the 2nd quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company's stock valued at $395,000 after purchasing an additional 580 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in Corcept Therapeutics in the 3rd quarter valued at about $36,000. Finally, Creative Planning boosted its holdings in Corcept Therapeutics by 7.2% in the 3rd quarter. Creative Planning now owns 12,467 shares of the biotechnology company's stock valued at $577,000 after purchasing an additional 841 shares during the period. Institutional investors own 93.61% of the company's stock.

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.