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

Piper Sandler reiterated their overweight rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $173.00 target price on the biotechnology company’s stock, up from their prior target price of $165.00.

A number of other brokerages have also recently commented on CORT. Truist Financial started coverage on shares of Corcept Therapeutics in a report on Tuesday, August 18th. They set a “buy” rating and a $164.00 target price for the company. Weiss Ratings upgraded shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research note on Monday, July 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $165.00 target price on shares of Corcept Therapeutics in a report on Friday, September 18th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.50.

Corcept Therapeutics Price Performance

Shares of CORT traded up $1.14 during trading hours on Wednesday, hitting $72.77. The stock had a trading volume of 1,406,672 shares, compared to its average volume of 961,585. The firm has a market capitalization of $7.87 billion, a PE ratio of 57.30 and a beta of 0.54. Corcept Therapeutics has a 12 month low of $28.66 and a 12 month high of $126.38. The stock has a fifty day moving average price of $107.58 and a 200 day moving average price of $75.65.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.17. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%. The business had revenue of $340.47 million for the quarter, compared to analysts’ expectations of $339.12 million. During the same period last year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was up 64.0% on a year-over-year basis. As a group, analysts anticipate that Corcept Therapeutics will post 1.97 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Roberto Vieira sold 58,333 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $110.76, for a total transaction of $6,460,963.08. Following the sale, the insider directly owned 4,242 shares in the company, valued at $469,843.92. This represents a 93.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William Guyer sold 16,300 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $113.43, for a total value of $1,848,909.00. Following the completion of the sale, the insider directly owned 3,985 shares of the company’s stock, valued at $452,018.55. The trade was a 80.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 382,536 shares of company stock worth $43,406,554 in the last quarter. Company insiders own 20.70% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CORT. BlackRock Inc. purchased a new position in Corcept Therapeutics during the second quarter worth $1,080,964,000. Parallel Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 2.5% in the 1st 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. First Trust Advisors LP lifted its holdings in shares of Corcept Therapeutics by 213.5% in the 1st 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. Bank of New York Mellon Corp purchased a new position in shares of Corcept Therapeutics during the 2nd quarter worth about $49,185,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Corcept Therapeutics by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 455,248 shares of the biotechnology company’s stock worth $18,351,000 after purchasing an additional 11,156 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Key Corcept Therapeutics News

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

• Positive Sentiment: HC Wainwright maintained its Buy rating and $165 price target, while projecting substantial longer-term earnings growth, including $6.76 per share in FY2028 and $12.92 in FY2030. HC Wainwright recommendations
• Negative Sentiment: HC Wainwright lowered EPS estimates across several upcoming quarters and years: FY2026 to $2.05 from $2.15 and FY2027 to $3.39 from $3.95, with cuts also to its Q4 2026 and 2027 quarterly forecasts. These downward revisions may temper expectations despite the analyst’s bullish rating. HC Wainwright recommendations
• Negative Sentiment: Insiders Roberto Vieira and Sean Maduck sold substantial portions of their holdings in transactions disclosed this week. Insider sales can raise investor concerns, though they do not necessarily reflect the company’s outlook. Insider selling report

About Corcept Therapeutics

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.