Corcept Therapeutics (NASDAQ:CORT) Hits New 52-Week Low After Analyst Downgrade

Corcept Therapeutics Incorporated (NASDAQ:CORT) shares hit a new 52-week low on Friday after HC Wainwright lowered their price target on the stock from $105.00 to $67.00. HC Wainwright currently has a buy rating on the stock. Corcept Therapeutics traded as low as $28.66 and last traded at $34.24, with a volume of 11763006 shares. The stock had previously closed at $39.82.

A number of other research firms also recently commented on CORT. Truist Financial set a $50.00 price objective on Corcept Therapeutics in a report on Wednesday, December 31st. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research report on Wednesday, December 31st. UBS Group assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.17.

Insider Activity

In related news, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $40.87, for a total transaction of $817,400.00. Following the completion of the sale, the insider directly owned 1,235 shares of the company’s stock, valued at approximately $50,474.45. This trade represents a 94.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $79.77, for a total value of $3,190,800.00. Following the sale, the chief executive officer owned 2,701,370 shares of the company’s stock, valued at $215,488,284.90. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 129,500 shares of company stock worth $8,665,500 over the last three months. Insiders own 20.80% of the company’s stock.

Key Headlines Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Balance-sheet strength could provide a cushion: Corcept reports a high current ratio (3.14), strong quick ratio (3.07) and minimal debt, which may help absorb near‑term revenue pressures.
• Neutral Sentiment: Short-interest data shown in recent feeds is inconsistent (reported as 0 shares and 0 days), offering no clear signal about bearish positioning from reported sources.
• Neutral Sentiment: Trading experienced multiple LULD (limit up/limit down) halts during the morning session as the market reacted to news, indicating volatile intraday trading but no change to fundamentals by itself.
• Neutral Sentiment: Recent valuation coverage revisits Corcept’s outlook after the relacorilant FDA complete response letter; useful for context but not an immediate catalyst compared with the patent loss. A Look At Corcept Therapeutics (CORT) Valuation
• Negative Sentiment: Appellate setback: the U.S. Court of Appeals for the Federal Circuit found that Teva’s proposed generic does not infringe two Korlym patents — a direct hit to Corcept’s patent defense and a primary driver of today’s selloff. Corcept Provides Update on Patent Dispute
• Negative Sentiment: Market reaction and coverage: multiple outlets report a steep intraday drop and describe the court decision as clearing the way for a Teva generic, compounding selling pressure. Corcept Stock Plunges As Court Clears Teva Generic
• Negative Sentiment: Legal and regulatory overhangs: recent alerts about potential securities‑law probes and the prior FDA CRL for relacorilant increase investor uncertainty and amplify downside risk from the patent loss. Securities-Law Probe Alert

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Corcept Therapeutics by 546.9% in the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares during the period. Norges Bank bought a new position in shares of Corcept Therapeutics in the 2nd quarter worth about $72,048,000. Epoch Investment Partners Inc. acquired a new position in shares of Corcept Therapeutics in the 2nd quarter valued at about $56,181,000. Geode Capital Management LLC grew its position in shares of Corcept Therapeutics by 38.0% during the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after buying an additional 734,646 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Corcept Therapeutics by 223.4% during the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after acquiring an additional 587,053 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Down 14.0%

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07. The stock’s fifty day simple moving average is $50.20 and its 200-day simple moving average is $67.26. The stock has a market cap of $3.60 billion, a P/E ratio of 38.91 and a beta of 0.25.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.