Nike Shares Rise 4% as Board Members Increase Stakes Amid Tough Year
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
- Board Stake Increase: Nike's board members Tim Cook and Robert Holmes Swan, along with CEO Elliott Hill, increased their stakes, resulting in a 4% rise in share price, reflecting executive confidence in the company's future amid a challenging year.
- FDA Drug Rejection: Corcept Therapeutics saw its shares plummet 50% after the FDA did not approve its drug relacorilant for hypercortisolism, indicating the need for more evidence of effectiveness, which could impact future research directions.
- Strong Performance in Healthcare: Molina Healthcare's shares rose 2.7%, marking its fourth consecutive positive session and a 6.3% weekly gain, driven by notable investor Michael Burry's mention in a Substack post, showcasing market optimism about its prospects.
- Biopharma Surge: Vanda Pharmaceuticals' stock surged 25% following FDA approval of tradipitant, a drug for motion-induced vomiting, which is expected to significantly enhance the company's competitiveness in the biopharma market.
Analyst Views on CORT
Wall Street analysts forecast CORT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CORT is 91.00 USD with a low forecast of 50.00 USD and a high forecast of 121.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
4 Buy
1 Hold
1 Sell
Moderate Buy
Current: 46.220
Low
50.00
Averages
91.00
High
121.00
Current: 46.220
Low
50.00
Averages
91.00
High
121.00
About CORT
Corcept Therapeutics Incorporated is a commercial-stage company. The Company is engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol. The Company operates through the discovery, development and commercialization of the pharmaceutical products segment. The Company has marketed Korlym (mifepristone) in the United States for the treatment of patients suffering from Cushings syndrome. The Company’s portfolio of selective cortisol modulators consists of four series totaling approximately 1,000 compounds. Its portfolio of selective cortisol modulators consists of relacorilant, dazucorilant and miricorilant. Korlyms active ingredient, mifepristone, reduces the binding of excess cortisol to the GR, it can modulate the effects of abnormal levels and release patterns of cortisol without compromising cortisols healthy functions and rhythms.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
