HC Wainwright Reaffirms 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 report issued to clients and investors on Thursday,Benzinga reports. They currently have a $115.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 81.47% from the stock’s current price.

Several other analysts have also recently commented on CORT. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Canaccord Genuity Group increased 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. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $97.00.

Corcept Therapeutics Price Performance

CORT stock opened at $63.37 on Thursday. The firm has a 50-day moving average of $59.60 and a two-hundred day moving average of $51.16. The firm has a market capitalization of $6.64 billion, a PE ratio of 50.29 and a beta of 0.58. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a one year low of $20.84 and a one year high of $75.00.

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

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total transaction of $130,812.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the firm’s 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 transaction, the insider now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,600 shares of company stock valued at $1,399,576. 20.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics in the third quarter valued at approximately $25,000. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics in the 4th quarter valued at $27,000. Canada Pension Plan Investment Board bought a new position in Corcept Therapeutics in the 4th quarter worth $40,000. National Bank of Canada FI acquired a new position in Corcept Therapeutics during the 4th quarter worth $42,000. Finally, USA Financial Formulas bought a new stake in Corcept Therapeutics during the fourth quarter valued at about $54,000. 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.