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

StockNews.com lowered shares of Corcept Therapeutics (NASDAQ:CORT) from a strong-buy rating to a buy rating in a report published on Friday morning.

Several other brokerages have also weighed in on CORT. Truist Financial increased their price objective on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the stock a buy rating in a report on Thursday, May 2nd. HC Wainwright raised their price target on shares of Corcept Therapeutics from $38.00 to $40.00 and gave the company a buy rating in a report on Thursday, May 2nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics has a consensus rating of Buy and an average target price of $40.10.

Corcept Therapeutics Stock Down 2.2 %

Corcept Therapeutics stock opened at $23.97 on Friday. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $34.28. The firm’s 50-day simple moving average is $23.99 and its 200 day simple moving average is $25.15. The firm has a market capitalization of $2.50 billion, a PE ratio of 22.61 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The business 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%. The business’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 firm earned $0.14 EPS. On average, research analysts expect that Corcept Therapeutics will post 0.97 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at $176,124. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the transaction, the insider now owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, 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 have sold a total of 92,413 shares of company stock worth $2,352,176 over the last ninety days. 20.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Several large investors have recently made changes to their positions in CORT. Commonwealth Equity Services LLC acquired a new stake in Corcept Therapeutics in the 3rd quarter worth approximately $202,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Corcept Therapeutics during the third quarter worth $4,726,000. FinTrust Capital Advisors LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth $27,000. New York State Teachers Retirement System lifted its stake in shares of Corcept Therapeutics by 2.7% during the third quarter. New York State Teachers Retirement System now owns 140,461 shares of the biotechnology company’s stock valued at $3,827,000 after acquiring an additional 3,734 shares during the period. Finally, Strs Ohio bought a new position in shares of Corcept Therapeutics in the 3rd quarter valued at about $54,000. 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.