Corcept Therapeutics (NASDAQ:CORT) Price Target Raised to $80.00 at HC Wainwright

Corcept Therapeutics (NASDAQ:CORT) had its price objective upped by HC Wainwright from $45.00 to $80.00 in a research report issued on Friday, MarketBeat reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 60.80% from the company’s current price.

CORT has been the topic of several other reports. Piper Sandler boosted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, Truist Financial boosted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Trading Up 5.5 %

Shares of CORT stock opened at $49.75 on Friday. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $50.07. The stock’s 50-day moving average price is $39.65 and its 200-day moving average price is $32.98. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 46.93 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The firm had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $155.14 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 39.1% compared to the same quarter last year. As a group, research analysts predict that Corcept Therapeutics will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the transaction, the insider now owns 6,039 shares in the company, valued at $213,176.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Gary Charles Robb sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the sale, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Guyer sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the sale, the insider now owns 6,039 shares of the company’s stock, valued at $213,176.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,251 shares of company stock worth $1,365,292 over the last 90 days. Company insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in Corcept Therapeutics by 30.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 532,760 shares of the biotechnology company’s stock worth $17,304,000 after buying an additional 124,185 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Corcept Therapeutics by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 9,537,532 shares of the biotechnology company’s stock worth $309,779,000 after purchasing an additional 239,887 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Corcept Therapeutics by 28.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,008 shares of the biotechnology company’s stock worth $358,000 after purchasing an additional 2,432 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 579 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new position in shares of Corcept Therapeutics during the first quarter worth $125,000. Institutional investors own 93.61% of the company’s stock.

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.