Corcept Therapeutics Incorporated (CORT) Receives $17.00 Average Price Target from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $17.00.

A number of equities research analysts have recently weighed in on CORT shares. Cantor Fitzgerald reaffirmed a “hold” rating and set a $17.00 price target on shares of Corcept Therapeutics in a research note on Friday, November 2nd. BidaskClub raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. ValuEngine raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, December 11th. Finally, Zacks Investment Research downgraded Corcept Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd.

Shares of NASDAQ CORT opened at $11.80 on Friday. Corcept Therapeutics has a one year low of $9.14 and a one year high of $20.00. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 26.82 and a beta of 1.19.

In related news, CEO Joseph K. Belanoff sold 217,115 shares of the firm’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $19.01, for a total value of $4,127,356.15. Following the transaction, the chief executive officer now directly owns 2,381,310 shares of the company’s stock, valued at approximately $45,268,703.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Leonard Baker, Jr. acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was bought at an average cost of $12.73 per share, for a total transaction of $1,273,000.00. Following the completion of the purchase, the director now directly owns 966,838 shares in the company, valued at approximately $12,307,847.74. The disclosure for this purchase can be found here. Insiders sold a total of 302,115 shares of company stock worth $5,743,206 over the last three months. 15.00% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of CORT. BlackRock Inc. grew its holdings in Corcept Therapeutics by 10.9% in the 3rd quarter. BlackRock Inc. now owns 15,745,397 shares of the biotechnology company’s stock valued at $220,750,000 after buying an additional 1,545,671 shares during the last quarter. Morgan Stanley grew its holdings in Corcept Therapeutics by 63.7% in the 3rd quarter. Morgan Stanley now owns 1,832,434 shares of the biotechnology company’s stock valued at $25,692,000 after buying an additional 712,878 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $40,000. PNC Financial Services Group Inc. grew its holdings in Corcept Therapeutics by 6,144.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 464,312 shares of the biotechnology company’s stock valued at $6,203,000 after buying an additional 456,876 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in Corcept Therapeutics by 310.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 530,783 shares of the biotechnology company’s stock valued at $7,091,000 after buying an additional 401,493 shares during the last quarter. 77.63% of the stock is currently owned by institutional investors and hedge funds.

About Corcept Therapeutics

Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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