Corcept Therapeutics (NASDAQ:CORT) Price Target Raised to $150.00

Corcept Therapeutics (NASDAQ:CORT) had its target price boosted by HC Wainwright from $115.00 to $150.00 in a research report released on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

Several other brokerages have also issued reports on CORT. Piper Sandler boosted their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.00.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $83.81 on Monday. The company has a market capitalization of $8.84 billion, a P/E ratio of 66.52 and a beta of 0.14. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $117.33. The business’s 50-day moving average is $64.18 and its 200 day moving average is $55.87. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, equities research analysts forecast that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the transaction, the chief executive officer now owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean Maduck sold 18,303 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the transaction, the insider now directly owns 85,622 shares of the company’s stock, valued at $5,196,399.18. The trade was a 17.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,124 shares of company stock worth $15,074,318. 20.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently added to or reduced their stakes in CORT. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $27,000. Canada Pension Plan Investment Board purchased a new position in Corcept Therapeutics during the fourth quarter worth about $40,000. National Bank of Canada FI acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $42,000. USA Financial Formulas purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Corcept Therapeutics during the fourth quarter worth about $58,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

About Corcept Therapeutics

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.