HC Wainwright Raises Corcept Therapeutics (NASDAQ:CORT) Price Target to $150.00

Corcept Therapeutics (NASDAQ:CORT) had its target price increased by equities research analysts at HC Wainwright from $115.00 to $150.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 48.02% from the company’s previous close.

CORT has been the topic of a number of other research reports. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler lifted their target price on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group upped their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $108.50.

Corcept Therapeutics Trading Up 85.5 %

NASDAQ CORT traded up $46.71 during trading on Monday, hitting $101.34. The stock had a trading volume of 8,530,282 shares, compared to its average volume of 1,028,395. The stock has a 50 day simple moving average of $61.89 and a 200 day simple moving average of $54.74. Corcept Therapeutics has a one year low of $20.84 and a one year high of $109.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 80.45 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Sell-side analysts predict that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the transaction, the insider now owns 9,009 shares of the company’s stock, valued at $545,765.22. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. This represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,022 shares of company stock valued at $2,703,257 in the last quarter. Corporate insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new position in Corcept Therapeutics in the 4th quarter valued at approximately $27,000. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth approximately $40,000. National Bank of Canada FI acquired a new position in Corcept Therapeutics during the fourth quarter worth approximately $42,000. USA Financial Formulas purchased a new position in Corcept Therapeutics during the fourth quarter worth approximately $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $58,000. Hedge funds and other 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.