Corcept Therapeutics (NASDAQ:CORT) Stock Rating Lowered by StockNews.com

Corcept Therapeutics (NASDAQ:CORT) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright dropped their price target on shares of Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 2nd. Truist Financial raised their price target on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics currently has an average rating of “Buy” and a consensus price target of $37.30.

Corcept Therapeutics Price Performance

CORT stock opened at $22.66 on Wednesday. The stock has a market capitalization of $2.35 billion, a PE ratio of 23.85 and a beta of 0.48. The company’s 50-day moving average is $23.93 and its 200-day moving average is $25.51. Corcept Therapeutics has a 1 year low of $20.87 and a 1 year high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data 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 net margin of 21.86% and a return on equity of 21.98%. The company had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The business’s revenue was up 31.4% on a year-over-year basis. On average, analysts anticipate that Corcept Therapeutics will post 0.92 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the transaction, the insider now directly owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the sale, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $190,164. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics 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 sale, the insider now directly owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,783 shares of company stock worth $2,118,996. Corporate insiders own 19.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Hedge funds have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC bought a new stake in Corcept Therapeutics in the third quarter worth $27,000. Lazard Asset Management LLC purchased a new position in shares of Corcept Therapeutics in the second quarter valued at about $28,000. GAMMA Investing LLC increased its position in shares of Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 579 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at about $32,000. Finally, Gladius Capital Management LP purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at about $36,000. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Company Profile

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.