Corcept Therapeutics (NASDAQ:CORT) Raised to “Peer Perform” at Wolfe Research

Corcept Therapeutics (NASDAQ:CORT) was upgraded by investment analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating in a note issued to investors on Thursday, MarketBeat reports.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. HC Wainwright reduced their price target on Corcept Therapeutics from $67.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research note on Wednesday. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Zacks Research cut Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $77.67.

Corcept Therapeutics Stock Down 2.4%

Shares of Corcept Therapeutics stock opened at $37.60 on Thursday. Corcept Therapeutics has a one year low of $28.66 and a one year high of $117.33. The company has a market cap of $4.00 billion, a P/E ratio of 45.85 and a beta of 0.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.85 and a current ratio of 2.92. The firm has a fifty day moving average of $37.53 and a two-hundred day moving average of $60.76.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. The firm had revenue of $202.13 million during the quarter, compared to analysts’ expectations of $254.94 million. During the same period in the previous year, the firm earned $0.26 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 26,198 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $50.07, for a total value of $1,311,733.86. Following the completion of the transaction, the chief executive officer directly owned 2,918,326 shares of the company’s stock, valued at approximately $146,120,582.82. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred 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 sale, the insider owned 1,235 shares of the company’s stock, valued at approximately $50,474.45. The trade was a 94.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 86,198 shares of company stock worth $3,552,769. 20.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Corcept Therapeutics by 18.9% in the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock valued at $1,757,000 after buying an additional 2,444 shares in the last quarter. Amundi purchased a new stake in shares of Corcept Therapeutics in the 1st quarter worth about $450,000. NewEdge Advisors LLC purchased a new stake in shares of Corcept Therapeutics in the 1st quarter worth about $518,000. Cetera Investment Advisers grew its stake in Corcept Therapeutics by 32.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,129 shares of the biotechnology company’s stock valued at $817,000 after acquiring an additional 2,755 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Corcept Therapeutics by 10.6% in the 2nd quarter. Legal & General Group Plc now owns 298,822 shares of the biotechnology company’s stock valued at $21,934,000 after acquiring an additional 28,685 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics News Summary

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

• Positive Sentiment: FDA approval of Lifyorli (relacorilant) plus nab‑paclitaxel for platinum‑resistant ovarian cancer is a material commercial catalyst that triggered the earlier sharp rally; approval creates a new revenue pathway and is the primary reason investors re‑rated the stock this week. FDA approval report
• Positive Sentiment: Broker/analyst support: Wolfe Research upgraded CORT (from underperform to peer‑perform) and other brokers (Truist, Canaccord) have issued bullish/strong‑buy views or raised targets, which can sustain buying interest as the market models new sales upside. Wolfe Research upgrade
• Neutral Sentiment: Market structure/volatility: trading halts and large intraday prints accompanied the approval-driven move — expect continued high volume and price swings as investors reprice expectations for launch and uptake. Market reaction coverage
• Neutral Sentiment: Consensus/ratings mix: some outlets show a “moderate buy” brokerage consensus; analysts remain mixed on valuation as the market weighs launch potential vs. prior execution and study data. Broker consensus report
• Negative Sentiment: Legal risk: multiple law firms have filed shareholder alerts and class actions alleging that Corcept misled investors about regulatory issues and patent matters; these suits (and the referenced FDA rejection / federal court patent loss claims) create potential liability, discovery risk and distraction for management. Hagens Berman class‑action alert
• Negative Sentiment: Insider selling: a recent disclosed sale by an insider reduced holdings significantly; while not proof of negative outlook, such sales can weigh on sentiment when paired with litigation headlines. Insider sale filing
• Negative Sentiment: Analyst divergence / forecast cuts: some firms have tempered long‑term estimates or issued cautious notes (e.g., a pessimistic forecast from HC Wainwright in recent coverage), underscoring uncertainty around peak sales and reimbursement. HC Wainwright coverage

Corcept Therapeutics Company Profile

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.