Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Average Rating of “Buy” from Brokerages

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received a consensus recommendation of “Buy” from the five analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $143.25.

A number of analysts have issued reports on CORT shares. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Piper Sandler raised their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial lifted their price target on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 31st. Finally, HC Wainwright upped their price objective on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 31st.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Maduck sold 18,303 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the sale, the insider now directly owns 85,622 shares of the company’s stock, valued at $5,196,399.18. The trade was a 17.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,124 shares of company stock valued at $15,117,614 over the last ninety days. Corporate insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Hedge funds have recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in Corcept Therapeutics during the 4th quarter valued at $27,000. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics during the fourth quarter valued at about $40,000. National Bank of Canada FI purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $42,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth about $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $62.24 on Friday. The company has a 50-day simple moving average of $65.66 and a 200-day simple moving average of $58.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a market cap of $6.57 billion, a PE ratio of 49.40 and a beta of 0.15. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. On average, equities analysts anticipate that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.