Corcept Therapeutics (NASDAQ:CORT) Rating Increased to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Corcept Therapeutics (NASDAQ:CORT) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on CORT. Zacks Research cut shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. HC Wainwright reduced their price objective on shares of Corcept Therapeutics from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. UBS Group began coverage on shares of Corcept Therapeutics in a report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 target price on the stock. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Finally, Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.00.

Corcept Therapeutics Trading Up 19.7%

Shares of CORT opened at $40.47 on Wednesday. Corcept Therapeutics has a fifty-two week low of $28.66 and a fifty-two week high of $117.33. The business has a 50-day moving average of $37.41 and a 200 day moving average of $61.15. The firm has a market cap of $4.30 billion, a P/E ratio of 49.35 and a beta of 0.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.85 and a current ratio of 2.92.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.13). The business had revenue of $202.13 million for the quarter, compared to analysts’ expectations of $254.94 million. Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. Corcept Therapeutics’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. As a group, research analysts forecast that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Buying and Selling

In related news, insider William Guyer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $40.87, for a total transaction of $817,400.00. Following the completion of the transaction, the insider owned 1,235 shares of the company’s stock, valued at approximately $50,474.45. The trade was a 94.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Leonard Baker, Jr. bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were purchased at an average cost of $33.14 per share, for a total transaction of $3,314,000.00. Following the acquisition, the director directly owned 1,146,631 shares in the company, valued at $37,999,351.34. This trade represents a 9.55% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 60,000 shares of company stock valued at $2,241,035 over the last 90 days. 20.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Abacus FCF Advisors LLC purchased a new stake in Corcept Therapeutics in the third quarter valued at approximately $3,238,000. JPMorgan Chase & Co. grew its stake in Corcept Therapeutics by 223.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after buying an additional 587,053 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Corcept Therapeutics by 6,796.7% in the 3rd quarter. Pacer Advisors Inc. now owns 390,559 shares of the biotechnology company’s stock worth $32,459,000 after buying an additional 384,896 shares during the last quarter. Brown Capital Management LLC bought a new position in shares of Corcept Therapeutics in the 3rd quarter worth $19,950,000. Finally, Cerity Partners LLC raised its position in shares of Corcept Therapeutics by 21.4% during the 2nd quarter. Cerity Partners LLC now owns 746,593 shares of the biotechnology company’s stock valued at $54,800,000 after buying an additional 131,799 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

More Corcept Therapeutics News

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

• Positive Sentiment: FDA approval of Lifyorli (relacorilant) plus nab?paclitaxel for platinum?resistant ovarian cancer — key commercial catalyst and the immediate driver of the rally; approval was completed ahead of schedule and trial data showed a survival benefit. FDA Approves Corcept’s Lifyorli (BusinessWire)
• Positive Sentiment: Coverage/analyst support: H.C. Wainwright reiterated a Buy and published a $60 price target (lowered from $67) while calling the early approval and long?term sales outlook supportive — helps justify upside expectations despite the lower PT. Corcept Wins FDA Approval (TipRanks)
• Positive Sentiment: Insider/director buying noted in mid?March (100,000 shares) has been cited by market commentary as a confidence signal and likely amplified bullish positioning ahead of the approval. Insider Buy & Catalyst Analysis (QuiverQuant)
• Neutral Sentiment: Trading was temporarily halted earlier today for a LULD pause as the stock moved sharply — a market?structure response to volatility, not company news. (Trading halt reported in market feeds.)
• Neutral Sentiment: Some outlets reported very large intraday moves (30–48%+ intraday prints) as traders re?priced the stock on the approval; expect continued volatility and large volume in the near term. Market Reaction Coverage (Reuters)
• Negative Sentiment: Multiple law firms have filed/alerted investors about securities?class?action suits alleging prior disclosures and regulatory/patent issues — these lawsuits and related allegations (including references to an FDA rejection and court patent loss in filings) represent material legal and financial risk that could pressure the stock. Hagens Berman Securities Class Action Alert (GlobeNewswire)
• Negative Sentiment: Recent insider selling: a disclosed sale by William Guyer on March 20 reduces insider ownership and may be viewed unfavorably by some investors (though offset by the director buy referenced above). Insider Sale SEC Filing

Corcept Therapeutics Company Profile

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.