Truist Financial Increases Corcept Therapeutics (NASDAQ:CORT) Price Target to $44.00

Corcept Therapeutics (NASDAQ:CORT) had its price target lifted by investment analysts at Truist Financial from $42.00 to $44.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s price target indicates a potential upside of 79.45% from the company’s current price.

Other analysts have also recently issued research reports about the company. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, April 23rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.10.

Corcept Therapeutics Stock Down 2.2 %

CORT stock traded down $0.54 during trading on Thursday, hitting $24.52. The company had a trading volume of 1,698,297 shares, compared to its average volume of 1,197,694. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $34.28. The company has a 50 day simple moving average of $23.97 and a 200-day simple moving average of $25.23. The firm has a market capitalization of $2.55 billion, a P/E ratio of 23.13 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last announced 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 return on equity of 24.19% and a net margin of 22.38%. The company had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $141.19 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Corcept Therapeutics’s revenue was up 38.9% compared to the same quarter last year. Sell-side analysts forecast that Corcept Therapeutics will post 0.98 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the sale, the insider now 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 is accessible through this hyperlink. In other news, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the sale, the chief accounting officer now owns 6,774 shares in the company, valued at $176,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 27,068 shares of the firm’s 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 transaction, the insider now directly owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,583 shares of company stock worth $2,070,596. Company insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC purchased a new stake in shares of Corcept Therapeutics in the third quarter worth about $27,000. GAMMA Investing LLC grew its stake in shares of Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at approximately $32,000. Gladius Capital Management LP acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $36,000. Finally, Planned Solutions Inc. purchased a new stake in Corcept Therapeutics during the fourth quarter worth $45,000. 93.61% of the stock is owned by institutional investors and hedge funds.

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.