Analysts Set Corcept Therapeutics Incorporated (NASDAQ:CORT) PT at $65.25

Corcept Therapeutics Incorporated (NASDAQ:CORT) has earned an average recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $65.25.

CORT has been the subject of several recent research reports. Piper Sandler upped their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday. Truist Financial lifted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. HC Wainwright increased their target price on shares of Corcept Therapeutics from $45.00 to $80.00 and gave the stock a “buy” rating in a report on Friday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $49.75 on Friday. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 46.93 and a beta of 0.46. The business has a 50 day simple moving average of $39.65 and a 200 day simple moving average of $33.04. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $50.07.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period last year, the business posted $0.25 earnings per share. On average, analysts predict that Corcept Therapeutics will post 1.12 EPS for the current year.

Insiders Place Their Bets

In related news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the sale, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the sale, the insider now owns 22,772 shares in the company, valued at $1,053,888.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,251 shares of company stock valued at $1,365,292 over the last 90 days. 20.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Corcept Therapeutics by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock valued at $240,962,000 after buying an additional 28,250 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Corcept Therapeutics by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock valued at $86,952,000 after acquiring an additional 108,658 shares in the last quarter. Norden Group LLC bought a new stake in Corcept Therapeutics during the 1st quarter worth $50,081,000. Jupiter Asset Management Ltd. increased its holdings in Corcept Therapeutics by 1,149.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock worth $18,753,000 after purchasing an additional 684,863 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Corcept Therapeutics in the 1st quarter worth about $18,426,000. Institutional investors own 93.61% of the company’s stock.

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.