HC Wainwright Reiterates Buy Rating for Corcept Therapeutics (NASDAQ:CORT)

Corcept Therapeutics (NASDAQ:CORT)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $115.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 89.83% from the company’s current price. HC Wainwright also issued estimates for Corcept Therapeutics’ Q4 2025 earnings at $0.73 EPS and FY2029 earnings at $8.52 EPS.

A number of other equities analysts have also commented on CORT. Canaccord Genuity Group raised their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $99.75.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $60.58 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $75.00. The firm has a market capitalization of $6.35 billion, a P/E ratio of 48.08 and a beta of 0.58. The company’s 50-day moving average is $59.78 and its 200 day moving average is $51.22.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Research analysts forecast that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Activity

In other news, insider Sean Maduck sold 20,000 shares of the stock in a transaction that occurred on 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 directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.54, for a total transaction of $111,188.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,600 shares of company stock worth $1,399,576. Corporate insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CORT. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics during the third quarter valued at approximately $25,000. Kestra Investment Management LLC acquired a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $27,000. Canada Pension Plan Investment Board acquired a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $40,000. National Bank of Canada FI acquired a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $42,000. Finally, USA Financial Formulas acquired a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $54,000. 93.61% of the stock is currently 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.