HC Wainwright Issues Positive Forecast for Corcept Therapeutics (NASDAQ:CORT) Stock Price

Corcept Therapeutics (NASDAQ:CORT) had its target price lifted by HC Wainwright from $115.00 to $150.00 in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

CORT has been the topic of a number of other research reports. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.00.

Corcept Therapeutics Stock Up 109.1 %

Shares of CORT opened at $114.22 on Monday. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of 90.65 and a beta of 0.61. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a fifty day moving average of $63.07 and a 200-day moving average of $55.29.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. As a group, sell-side analysts anticipate that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This represents a 18.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Douglas Lyon sold 421 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the sale, the insider now directly owns 9,009 shares of the company’s stock, valued at $545,765.22. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,022 shares of company stock valued at $2,703,257. Corporate insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CORT. Synergy Asset Management LLC lifted its stake in Corcept Therapeutics by 131.3% during the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after acquiring an additional 262,503 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $4,483,000. State Street Corp boosted its stake in shares of Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after buying an additional 19,893 shares during the last quarter. Burney Co. boosted its stake in shares of Corcept Therapeutics by 9.1% in the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after buying an additional 39,657 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Corcept Therapeutics by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock valued at $11,712,000 after acquiring an additional 76,573 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

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.