Corcept Therapeutics (NASDAQ:CORT) Cut to “Buy” at StockNews.com

StockNews.com cut shares of Corcept Therapeutics (NASDAQ:CORT) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

Other equities research analysts also recently issued reports about the company. Truist Financial boosted their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the company a buy rating in a report on Friday, February 16th. HC Wainwright lowered their price target on Corcept Therapeutics from $34.00 to $28.00 and set a buy rating for the company in a report on Tuesday, January 2nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and an average target price of $37.30.

Corcept Therapeutics Trading Up 1.3 %

Shares of NASDAQ CORT opened at $22.95 on Wednesday. Corcept Therapeutics has a twelve month low of $20.87 and a twelve month high of $34.28. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 24.16 and a beta of 0.48. The business has a 50 day simple moving average of $23.93 and a 200-day simple moving average of $25.48.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The business had revenue of $135.41 million during the quarter, compared to the consensus estimate of $129.27 million. During the same period in the previous year, the business earned $0.14 EPS. The business’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, equities analysts predict that Corcept Therapeutics will post 0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Sean Maduck sold 27,068 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the transaction, the insider now owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The transaction was disclosed in a document filed 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 on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at approximately $176,124. The disclosure for this sale can be found here. Insiders sold a total of 83,783 shares of company stock worth $2,118,996 in the last three months. 19.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. FinTrust Capital Advisors LLC bought a new position in shares of Corcept Therapeutics in the third quarter worth $27,000. FNY Investment Advisers LLC acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $32,000. Gladius Capital Management LP acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $36,000. GAMMA Investing LLC lifted 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 valued at $31,000 after buying an additional 579 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Corcept Therapeutics in the second quarter valued at $28,000. Institutional investors own 93.61% of the company’s stock.

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.