HC Wainwright Cuts Corcept Therapeutics (NASDAQ:CORT) Price Target to $67.00

Corcept Therapeutics (NASDAQ:CORT) had its price objective reduced by HC Wainwright from $105.00 to $67.00 in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Zacks Research downgraded Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 29th. UBS Group began coverage on Corcept Therapeutics in a report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 price objective for the company. Finally, Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $77.17.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $34.82 on Friday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 39.57 and a beta of 0.25. Corcept Therapeutics has a 52-week low of $28.66 and a 52-week high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. The stock’s 50 day moving average price is $49.14 and its two-hundred day moving average price is $66.95.

Insider Buying and Selling

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $40.87, for a total transaction of $817,400.00. Following the transaction, the insider directly owned 1,235 shares of the company’s stock, valued at $50,474.45. The trade was a 94.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 5,000 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $79.53, for a total transaction of $397,650.00. Following the completion of the sale, the insider owned 10,277 shares of the company’s stock, valued at approximately $817,329.81. The trade was a 32.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 129,500 shares of company stock worth $8,665,500 in the last ninety days. Corporate insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new stake in Corcept Therapeutics in the 4th quarter valued at about $25,000. Advisory Services Network LLC bought a new position in shares of Corcept Therapeutics in the third quarter valued at approximately $25,000. Clearstead Advisors LLC increased its position in shares of Corcept Therapeutics by 163.6% during the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $28,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Corcept Therapeutics during the fourth quarter worth $31,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: HC Wainwright kept a “buy” rating on CORT despite cutting its price target from $105 to $67, signaling some analyst conviction in upside even after the patent loss. The Fly
• Positive Sentiment: Commentary arguing that the recent negative patent news may be largely priced in and that Corcept’s potential upside from ovarian cancer and other pipeline opportunities remains under-appreciated — a bullish narrative some investors are using to buy the dip. Seeking Alpha
• Neutral Sentiment: Reported short interest data in recent filings show effectively zero reported short interest (odd reporting artifact). Low measured short interest reduces immediate short‑squeeze risk but data may be unreliable. (No external link provided.)
• Negative Sentiment: The U.S. Court of Appeals (Federal Circuit) found Teva’s proposed generic does not infringe two Corcept patents covering Korlym, a ruling Corcept disclosed on Feb. 19 — the primary catalyst for the sharp selloff and heightened volatility. Business Wire
• Negative Sentiment: Immediate market reaction included steep intraday declines reported across outlets and several Limit Up/Limit Down (LULD) trading halts as the news hit, signaling heavy selling pressure and elevated short‑term risk. Benzinga

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.