Corcept Therapeutics (NASDAQ:CORT) Downgraded by StockNews.com to Buy

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

Other equities research analysts also recently issued reports about the company. Truist Financial increased their price target on Corcept Therapeutics from $42.00 to $44.00 and gave the stock a buy rating in a report on Thursday. HC Wainwright upped their price objective on Corcept Therapeutics from $38.00 to $40.00 and gave the company a buy rating in a research report on Thursday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics has an average rating of Buy and a consensus target price of $40.10.

Corcept Therapeutics Trading Down 2.2 %

Shares of NASDAQ:CORT traded down $0.54 during trading on Friday, reaching $24.52. The company’s stock had a trading volume of 1,698,297 shares, compared to its average volume of 1,197,694. The firm’s 50 day simple moving average is $23.97 and its two-hundred day simple moving average is $25.23. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $34.28. The stock has a market capitalization of $2.55 billion, a PE ratio of 23.13 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The firm had revenue of $146.80 million during the quarter, compared to analyst estimates of $141.19 million. During the same quarter last year, the business earned $0.14 EPS. The business’s revenue was up 38.9% on a year-over-year basis. Research analysts anticipate that Corcept Therapeutics will post 0.98 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $23.59, for a total transaction of $51,898.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the sale, the insider now owns 74,455 shares in the company, valued at $1,933,596.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Friday, March 1st. The shares were sold at an average price of $23.59, for a total value of $51,898.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,583 shares of company stock worth $2,070,596. Company insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC bought a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at about $27,000. GAMMA Investing LLC grew its holdings in Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth $32,000. Gladius Capital Management LP purchased a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $36,000. Finally, Planned Solutions Inc. acquired a new stake in shares of Corcept Therapeutics in the 4th quarter worth $45,000. Institutional investors own 93.61% of the company’s stock.

About Corcept Therapeutics

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.