Corcept Therapeutics’ (CORT) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a research note published on Monday, Benzinga reports. They currently have a $35.00 price target on the biotechnology company’s stock.

Several other research analysts have also weighed in on CORT. HC Wainwright restated a buy rating and set a $40.00 price objective on shares of Corcept Therapeutics in a research note on Wednesday, May 29th. StockNews.com lowered shares of Corcept Therapeutics from a strong-buy rating to a buy rating in a research note on Friday, May 3rd. Finally, Truist Financial reiterated a buy rating and issued a $65.00 price target on shares of Corcept Therapeutics in a research note on Monday, June 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics presently has an average rating of Buy and a consensus price target of $45.10.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $30.50 on Monday. The firm has a market capitalization of $3.18 billion, a PE ratio of 28.77 and a beta of 0.44. The company’s 50-day moving average is $28.91 and its 200-day moving average is $26.16. Corcept Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $35.22.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. The company 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%. Corcept Therapeutics’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. As a group, analysts expect that Corcept Therapeutics will post 0.95 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 10,830 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $26.00, for a total value of $281,580.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 10,830 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $26.00, for a total value of $281,580.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,457 shares of company stock worth $2,655,766. 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 CORT. Vanguard Group Inc. boosted its position in shares of Corcept Therapeutics by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after acquiring an additional 28,250 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Corcept Therapeutics by 1.2% during the 4th quarter. Parallel Advisors LLC now owns 3,768,245 shares of the biotechnology company’s stock worth $122,393,000 after acquiring an additional 44,762 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Corcept Therapeutics during the 1st quarter worth approximately $50,081,000. Boston Trust Walden Corp boosted its position in shares of Corcept Therapeutics by 1.1% during the 4th quarter. Boston Trust Walden Corp now owns 1,846,924 shares of the biotechnology company’s stock worth $59,988,000 after acquiring an additional 19,877 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Corcept Therapeutics by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 900,444 shares of the biotechnology company’s stock worth $29,246,000 after acquiring an additional 39,111 shares in the last quarter. 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.