Corcept Therapeutics (NASDAQ:CORT) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a buy rating to a strong-buy rating in a research note published on Thursday.

CORT has been the subject of a number of other reports. HC Wainwright reiterated a buy rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, April 23rd. Truist Financial boosted their target price on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a buy rating in a report on Friday, February 16th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $39.30.

Corcept Therapeutics Price Performance

CORT stock opened at $22.80 on Thursday. The company has a 50 day simple moving average of $23.81 and a 200 day simple moving average of $25.35. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 24.00 and a beta of 0.48. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $135.41 million during the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. On average, equities research analysts anticipate that Corcept Therapeutics will post 0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph Douglas Lyon sold 5,443 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the sale, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $190,164. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the sale, the insider now directly owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph Douglas Lyon sold 5,443 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the sale, the insider now directly owns 7,314 shares in the company, valued at $190,164. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 in the last ninety days. 19.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently modified their holdings of CORT. FinTrust Capital Advisors LLC bought a new position in Corcept Therapeutics during the third quarter worth $27,000. GAMMA Investing LLC boosted its stake in Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 579 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Corcept Therapeutics during the fourth quarter worth $32,000. Gladius Capital Management LP bought a new position in Corcept Therapeutics during the fourth quarter worth $36,000. Finally, Planned Solutions Inc. bought a new position in Corcept Therapeutics during the fourth quarter worth $45,000. 93.61% of the stock is owned by institutional investors.

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.