Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $88.83 Consensus Target Price from Brokerages

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $88.8333.

A number of equities research analysts have issued reports on CORT shares. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Piper Sandler upped their price target on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. UBS Group set a $135.00 price objective on Corcept Therapeutics in a research report on Thursday, May 28th. Finally, Wolfe Research upgraded Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th.

Insiders Place Their Bets

In other news, Director David L. Mahoney sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $84.53, for a total transaction of $1,690,600.00. Following the transaction, the director owned 26,147 shares in the company, valued at approximately $2,210,205.91. This trade represents a 43.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James N. Wilson sold 10,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $83.20, for a total transaction of $832,000.00. Following the completion of the sale, the director directly owned 1,094,543 shares of the company’s stock, valued at approximately $91,065,977.60. The trade was a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 300,000 shares of company stock worth $22,088,050 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds have recently bought and sold shares of CORT. Pathstone Holdings LLC boosted its stake in shares of Corcept Therapeutics by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock worth $1,497,000 after acquiring an additional 144 shares in the last quarter. State of Wyoming raised its stake in shares of Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 186 shares in the last quarter. Gould Capital LLC raised its stake in shares of Corcept Therapeutics by 50.0% in the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after acquiring an additional 200 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Corcept Therapeutics by 3.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 247 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in Corcept Therapeutics by 3.0% in the 4th quarter. Evergreen Capital Management LLC now owns 8,609 shares of the biotechnology company’s stock worth $300,000 after purchasing an additional 248 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Trading Up 0.3%

Shares of Corcept Therapeutics stock opened at $93.25 on Friday. Corcept Therapeutics has a 1 year low of $28.66 and a 1 year high of $95.11. The company has a market cap of $10.01 billion, a P/E ratio of 266.44 and a beta of 0.47. The stock has a 50-day moving average price of $71.71 and a 200 day moving average price of $52.50.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The business had revenue of $164.90 million for the quarter, compared to analysts’ expectations of $185.83 million. Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. On average, equities analysts forecast that Corcept Therapeutics will post 0.53 earnings per share for the current fiscal year.

About Corcept Therapeutics

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.