Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $77.67 Average PT from Brokerages

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $77.6667.

A number of research analysts recently weighed in on CORT shares. Wolfe Research raised shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, March 26th. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. HC Wainwright decreased their price objective on shares of Corcept Therapeutics from $67.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th.

Corcept Therapeutics Stock Down 3.2%

CORT opened at $45.08 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 2.85. The company’s 50-day moving average is $38.37 and its 200 day moving average is $55.99. Corcept Therapeutics has a fifty-two week low of $28.66 and a fifty-two week high of $91.00. The firm has a market capitalization of $4.84 billion, a P/E ratio of 54.98 and a beta of 0.25.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. The firm had revenue of $202.13 million for the quarter, compared to the consensus estimate of $254.94 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts expect that Corcept Therapeutics will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director G Leonard Baker, Jr. acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average price of $33.14 per share, for a total transaction of $3,314,000.00. Following the completion of the acquisition, the director owned 1,146,631 shares of the company’s stock, valued at approximately $37,999,351.34. This represents a 9.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $40.97, for a total transaction of $819,400.00. Following the sale, the insider owned 2,231 shares of the company’s stock, valued at $91,404.07. This trade represents a 89.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 86,198 shares of company stock worth $3,668,569. Insiders own 20.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Pathstone Holdings LLC increased its holdings in Corcept Therapeutics by 0.8% during the third quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock worth $1,497,000 after buying an additional 144 shares during the last quarter. Campbell Newman Asset Management Inc. increased its stake in shares of Corcept Therapeutics by 0.5% in the third quarter. Campbell Newman Asset Management Inc. now owns 35,530 shares of the biotechnology company’s stock worth $2,953,000 after purchasing an additional 170 shares in the last quarter. Clearstead Advisors LLC increased its stake in shares of Corcept Therapeutics by 163.6% in the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 193 shares in the last quarter. Gould Capital LLC increased its stake in shares of Corcept Therapeutics by 50.0% in the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 200 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Corcept Therapeutics by 3.7% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.