Corcept Therapeutics (NASDAQ:CORT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a hold rating to a strong-buy rating in a research report report published on Saturday morning.

Several other research analysts have also recently weighed in on the stock. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Wolfe Research lowered shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a report on Monday, July 27th. HC Wainwright increased their price target on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Finally, Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $119.17.

Corcept Therapeutics Price Performance

CORT stock opened at $112.80 on Friday. The business has a 50 day simple moving average of $85.82 and a 200-day simple moving average of $57.45. The firm has a market capitalization of $12.19 billion, a PE ratio of 268.58 and a beta of 0.45. Corcept Therapeutics has a 1 year low of $28.66 and a 1 year high of $122.21.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same period in the prior year, the business earned $0.29 EPS. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. On average, equities research analysts expect that Corcept Therapeutics will post 1.13 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Atabak Mokari sold 80,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $114.71, for a total transaction of $9,176,800.00. Following the completion of the transaction, the chief financial officer owned 16,130 shares of the company’s stock, valued at approximately $1,850,272.30. This trade represents a 83.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 25,000 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $88.35, for a total transaction of $2,208,750.00. Following the completion of the sale, the insider owned 9,755 shares of the company’s stock, valued at $861,854.25. This trade represents a 71.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 360,000 shares of company stock worth $30,228,250. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CORT. Torren Management LLC purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at $25,000. Advisory Services Network LLC purchased a new position in Corcept Therapeutics during the 3rd quarter valued at about $25,000. Atlas Capital Advisors Inc. purchased a new position in Corcept Therapeutics during the 4th quarter valued at about $31,000. State of Wyoming grew its position in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 186 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Corcept Therapeutics by 113.7% in the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 524 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.