Corcept Therapeutics (NASDAQ:CORT) Upgraded 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 issued to investors on Thursday morning.

A number of other research firms also recently commented on CORT. HC Wainwright reiterated a buy rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, April 23rd. Truist Financial boosted their price objective on 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $39.30.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $22.80 on Thursday. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $34.28. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 24.00 and a beta of 0.48. The stock’s 50-day simple moving average is $23.81 and its 200-day simple moving average is $25.32.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results 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. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The business had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. During the same period in the previous year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. As a group, research analysts predict that Corcept Therapeutics will post 0.92 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the 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 transaction, the insider now owns 74,455 shares in the company, valued at approximately $1,933,596.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was 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 $190,164. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction dated 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 in the company, valued at $1,933,596.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,783 shares of company stock worth $2,118,996. Company insiders own 19.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Linden Thomas Advisory Services LLC increased its holdings in shares of Corcept Therapeutics by 0.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock valued at $1,529,000 after acquiring an additional 368 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Corcept Therapeutics by 27.0% in the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 448 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Corcept Therapeutics by 9.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 500 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 579 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Corcept Therapeutics by 1.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company’s stock valued at $1,444,000 after purchasing an additional 641 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

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.