Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Average Rating of “Buy” by Brokerages

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received a consensus recommendation of “Buy” from the five research firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $65.25.

A number of analysts have recently commented on CORT shares. Piper Sandler boosted their price objective on shares of 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 restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, Truist Financial raised their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Guyer sold 3,394 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $48.97, for a total transaction of $166,204.18. Following the completion of the transaction, the insider now directly owns 5,796 shares in the company, valued at $283,830.12. The trade was a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,811 shares of company stock worth $832,280. Insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC grew its position in shares of Corcept Therapeutics by 62.5% in the second quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 1,500 shares during the last quarter. Natixis Advisors LLC increased its position in Corcept Therapeutics by 16.0% during the 2nd quarter. Natixis Advisors LLC now owns 20,660 shares of the biotechnology company’s stock worth $671,000 after buying an additional 2,854 shares during the period. Arizona State Retirement System increased its position in Corcept Therapeutics by 8.3% during the 2nd quarter. Arizona State Retirement System now owns 26,081 shares of the biotechnology company’s stock worth $847,000 after buying an additional 2,001 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Corcept Therapeutics during the second quarter worth $219,000. Finally, Savant Capital LLC boosted its position in shares of Corcept Therapeutics by 44.0% in the second quarter. Savant Capital LLC now owns 18,325 shares of the biotechnology company’s stock valued at $595,000 after acquiring an additional 5,602 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

CORT opened at $50.39 on Wednesday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 39.99 and a beta of 0.51. The business’s 50-day moving average price is $54.39 and its two-hundred day moving average price is $43.00. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $62.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

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

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.