Corcept Therapeutics (NASDAQ:CORT) Receives Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a research report released on Monday, Benzinga reports. The brokerage currently has a $35.00 price target on the biotechnology company’s stock.

Several other brokerages have also recently commented on CORT. HC Wainwright restated a buy rating and set a $40.00 target price on shares of Corcept Therapeutics in a report on Wednesday, May 29th. StockNews.com cut shares of Corcept Therapeutics from a strong-buy rating to a buy rating in a report on Friday, May 3rd. Finally, Truist Financial restated a buy rating and set a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Corcept Therapeutics presently has an average rating of Buy and a consensus target price of $45.10.

Corcept Therapeutics Stock Up 0.6 %

Shares of CORT stock opened at $32.67 on Monday. The firm has a fifty day moving average of $28.58 and a 200-day moving average of $26.12. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $35.22. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 30.82 and a beta of 0.44.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The company had revenue of $146.80 million during the quarter, compared to the consensus estimate of $141.19 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, equities analysts expect that Corcept Therapeutics will post 0.95 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $30.21, for a total value of $66,462.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Gary Charles Robb sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $30.39, for a total transaction of $334,290.00. Following the completion of the sale, the insider now owns 20,203 shares in the company, valued at approximately $613,969.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $30.21, for a total transaction of $66,462.00. The disclosure for this sale can be found here. Insiders sold a total of 91,700 shares of company stock worth $2,562,652 over the last quarter. 20.50% of the stock is currently owned by insiders.

Institutional Trading of Corcept Therapeutics

A number of hedge funds have recently modified their holdings of CORT. GAMMA Investing LLC increased its position in Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 579 shares during the period. FNY Investment Advisers LLC bought a new position in Corcept Therapeutics during the fourth quarter worth about $32,000. Gladius Capital Management LP bought a new position in Corcept Therapeutics during the fourth quarter worth about $36,000. Planned Solutions Inc. bought a new position in Corcept Therapeutics during the fourth quarter worth about $45,000. Finally, FinTrust Capital Advisors LLC increased its position in Corcept Therapeutics by 318.7% during the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 1,348 shares during the period. Institutional investors and hedge funds 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.