Analysts Set Corcept Therapeutics Incorporated (NASDAQ:CORT) Price Target at $80.83

Corcept Therapeutics Incorporated (NASDAQ:CORT) has been given an average rating of “Hold” by the eight research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $80.8333.

A number of analysts have recently issued reports on the company. HC Wainwright cut their price objective on Corcept Therapeutics from $145.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, January 2nd. Truist Financial set a $50.00 price target on Corcept Therapeutics in a report on Wednesday, December 31st. Canaccord Genuity Group reduced their price objective on shares of Corcept Therapeutics from $140.00 to $99.00 and set a “buy” rating for the company in a research report on Friday, January 2nd. UBS Group started coverage on shares of Corcept Therapeutics in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price objective on the stock. Finally, Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $36.35 on Friday. The company has a fifty day moving average price of $71.42 and a two-hundred day moving average price of $73.00. Corcept Therapeutics has a one year low of $32.99 and a one year high of $117.33. The stock has a market cap of $3.82 billion, a P/E ratio of 41.31 and a beta of 0.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The firm had revenue of $207.64 million during the quarter, compared to the consensus estimate of $223.78 million. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.77, for a total transaction of $3,190,800.00. Following the transaction, the chief executive officer owned 2,701,370 shares in the company, valued at approximately $215,488,284.90. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.53, for a total value of $397,650.00. Following the sale, the insider directly owned 10,277 shares of the company’s stock, valued at approximately $817,329.81. The trade was a 32.73% 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 194,500 shares of company stock valued at $14,186,410. 20.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CORT. AQR Capital Management LLC raised its stake in Corcept Therapeutics by 546.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares in the last quarter. Norges Bank acquired a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $72,048,000. TD Asset Management Inc boosted its stake in shares of Corcept Therapeutics by 16.6% in the third quarter. TD Asset Management Inc now owns 956,136 shares of the biotechnology company’s stock valued at $79,464,000 after buying an additional 136,254 shares during the period. JPMorgan Chase & Co. grew its position in Corcept Therapeutics by 223.4% during the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after buying an additional 587,053 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Corcept Therapeutics by 10.7% during the 3rd quarter. Epoch Investment Partners Inc. now owns 847,104 shares of the biotechnology company’s stock worth $70,403,000 after acquiring an additional 81,700 shares during the period. Institutional investors own 93.61% of the company’s stock.

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.