Corcept Therapeutics (NASDAQ:CORT) Price Target Increased to $40.00 by Analysts at HC Wainwright

Corcept Therapeutics (NASDAQ:CORT) had its price objective lifted by HC Wainwright from $38.00 to $40.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has 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.

A number of other research analysts also recently issued reports on CORT. Truist Financial boosted their target price on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the company a buy rating in a research report on Thursday. StockNews.com upgraded Corcept Therapeutics from a buy rating to a strong-buy rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $40.10.

Corcept Therapeutics Price Performance

NASDAQ:CORT traded down $0.54 during trading hours on Thursday, hitting $24.52. 1,698,297 shares of the company were exchanged, compared to its average volume of 1,197,694. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $34.28. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 23.13 and a beta of 0.50. The company’s 50 day moving average price is $23.97 and its 200-day moving average price is $25.23.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $146.80 million for the quarter, compared to analyst estimates of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. On average, equities analysts predict that Corcept Therapeutics will post 0.98 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the sale, the insider now owns 7,314 shares of the company’s stock, valued at approximately $190,164. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Sean Maduck sold 27,068 shares of the firm’s 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 transaction, the insider now directly owns 74,455 shares in the company, valued at approximately $1,933,596.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,443 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total value of $141,518.00. Following the sale, the insider now directly owns 7,314 shares in the company, valued at approximately $190,164. The disclosure for this sale can be found here. Insiders have sold a total of 81,583 shares of company stock worth $2,070,596 in the last quarter. Company insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently bought and sold shares of CORT. FinTrust Capital Advisors LLC purchased a new position in shares of Corcept Therapeutics in the 3rd quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in shares of Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 579 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at $32,000. Gladius Capital Management LP acquired a new stake in Corcept Therapeutics during the 4th quarter worth $36,000. Finally, Planned Solutions Inc. purchased a new stake in Corcept Therapeutics in the fourth quarter valued at $45,000. Institutional investors and hedge funds 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.