Corcept Therapeutics (NASDAQ:CORT) Price Target Raised to $130.00

Corcept Therapeutics (NASDAQ:CORT) had its target price increased by equities research analysts at Canaccord Genuity Group from $78.00 to $130.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 94.26% from the stock’s current price.

A number of other equities research analysts have also issued reports on CORT. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday, October 31st. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics has a consensus rating of “Buy” and a consensus price target of $88.25.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $66.92 on Thursday. The company has a market cap of $7.01 billion, a P/E ratio of 53.11 and a beta of 0.56. Corcept Therapeutics has a one year low of $20.84 and a one year high of $71.29. The business has a fifty day moving average of $56.02 and a two-hundred day moving average of $46.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. As a group, analysts predict that Corcept Therapeutics will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total transaction of $80,031.92. Following the transaction, the insider now owns 8,494 shares of the company’s stock, valued at $481,779.68. This trade represents a 14.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William Guyer sold 3,394 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the transaction, the insider now owns 5,796 shares of the company’s stock, valued at approximately $283,830.12. The trade was a 36.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,405 shares of company stock valued at $1,627,772. Corporate insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its position in shares of Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after purchasing an additional 19,893 shares during the period. Geode Capital Management LLC boosted its position in Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after acquiring an additional 99,470 shares during the period. FMR LLC grew its position in Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after buying an additional 269,074 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Corcept Therapeutics by 40.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after acquiring an additional 352,947 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Corcept Therapeutics by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock worth $47,506,000 after purchasing an additional 53,191 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

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.