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.
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.
Read More: What are different types of coverage ratios?
Receive News & Ratings for Corcept Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.