Corcept Therapeutics (NASDAQ:CORT) Shares Gap Up – Should You Buy?

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $60.36, but opened at $64.70. Corcept Therapeutics shares last traded at $64.8620, with a volume of 265,717 shares.

Key Stories Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Corcept said it will resubmit its New Drug Application for relacorilant to treat patients with Cushing’s syndrome, reinforcing a key regulatory path for a potential commercial launch and driving renewed investor enthusiasm. Article Title
• Positive Sentiment: Canaccord Genuity raised its price target on Corcept Therapeutics from $110 to $135 and reiterated a buy rating, signaling stronger confidence in the company’s upside. Article Title
• Positive Sentiment: HC Wainwright also lifted its price target from $75 to $95 and maintained a buy rating, adding to the bullish analyst momentum around CORT. Article Title
• Positive Sentiment: Stockholders approved an expanded incentive plan and board-related measures at the 2026 annual meeting, removing a governance overhang and supporting the company’s ability to retain and incentivize talent. Article Title
• Neutral Sentiment: Short-interest data showed no meaningful change, offering little new signal for near-term trading in the stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CORT shares. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Thursday. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. HC Wainwright increased their price objective on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Corcept Therapeutics Stock Up 2.6%

The firm has a market cap of $7.34 billion, a P/E ratio of 195.38 and a beta of 0.36. The business has a fifty day moving average of $47.30 and a 200 day moving average of $52.18.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The business had revenue of $164.90 million for the quarter, compared to the consensus estimate of $185.83 million. During the same quarter in the previous year, the business posted $0.17 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts expect that Corcept Therapeutics Incorporated will post 0.52 EPS for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. purchased 100,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average price of $33.14 per share, for a total transaction of $3,314,000.00. Following the completion of the acquisition, the director owned 1,146,631 shares of the company’s stock, valued at approximately $37,999,351.34. This trade represents a 9.55% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 26,198 shares of Corcept Therapeutics stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $50.07, for a total value of $1,311,733.86. Following the transaction, the chief executive officer owned 2,918,326 shares of the company’s stock, valued at $146,120,582.82. The trade was a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 86,198 shares of company stock worth $3,887,769. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Corcept Therapeutics by 2.5% during the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after acquiring an additional 96,763 shares during the last quarter. State Street Corp lifted its position in Corcept Therapeutics by 0.5% during the fourth quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock worth $103,915,000 after acquiring an additional 15,656 shares during the last quarter. Geode Capital Management LLC lifted its position in Corcept Therapeutics by 38.0% during the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock worth $92,892,000 after acquiring an additional 734,646 shares during the last quarter. First Trust Advisors LP lifted its position in Corcept Therapeutics by 213.5% during the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after acquiring an additional 1,480,059 shares during the last quarter. Finally, Morgan Stanley lifted its position in Corcept Therapeutics by 34.1% during the fourth quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock worth $55,404,000 after acquiring an additional 405,081 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

About Corcept Therapeutics

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.