Truist Financial Increases Corcept Therapeutics (NASDAQ:CORT) Price Target to $44.00

Corcept Therapeutics (NASDAQ:CORT) had its target price raised by equities researchers at Truist Financial from $42.00 to $44.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s price objective indicates a potential upside of 81.67% from the company’s current price.

Several other brokerages also recently weighed in on CORT. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, April 23rd. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $39.70.

Corcept Therapeutics Price Performance

NASDAQ CORT traded up $0.34 on Thursday, reaching $24.22. 345,162 shares of the company’s stock traded hands, compared to its average volume of 1,449,238. The stock has a market cap of $2.52 billion, a PE ratio of 25.50 and a beta of 0.50. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $34.28. The stock has a 50-day simple moving average of $23.89 and a 200 day simple moving average of $25.25.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $135.41 million for 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 revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. As a group, analysts anticipate that Corcept Therapeutics will post 0.99 EPS for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $23.59, for a total transaction of $51,898.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at $176,124. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $23.59, for a total transaction of $51,898.00. The disclosure for this sale can be found here. Insiders sold 81,583 shares of company stock valued at $2,070,596 over the last quarter. 20.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. FinTrust Capital Advisors LLC purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $32,000. Gladius Capital Management LP bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $36,000. GAMMA Investing LLC raised its position in shares of Corcept Therapeutics by 90.6% in the 1st 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. Finally, Planned Solutions Inc. bought a new position in Corcept Therapeutics in the 4th quarter worth about $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.