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

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

Several other analysts have also issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Piper Sandler increased their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.00.

Corcept Therapeutics Stock Up 109.1 %

Corcept Therapeutics stock opened at $114.22 on Monday. The firm has a 50 day moving average price of $63.07 and a 200-day moving average price of $55.29. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $117.33. The company has a market capitalization of $12.05 billion, a P/E ratio of 90.65 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data 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). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. As a group, equities analysts predict that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the sale, the chief executive officer now owns 3,019,411 shares of the company’s stock, valued at $183,912,324.01. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,022 shares of company stock valued at $2,703,257. Corporate insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock valued at $509,726,000 after purchasing an additional 109,294 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Corcept Therapeutics by 0.4% during the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company’s stock valued at $192,975,000 after buying an additional 15,908 shares in the last quarter. State Street Corp lifted its position in 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. Geode Capital Management LLC boosted its stake in Corcept Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after buying an additional 99,470 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Corcept Therapeutics by 4.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company’s stock valued at $82,889,000 after acquiring an additional 64,321 shares during the last quarter. Hedge funds and other 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.