Corcept Therapeutics (NASDAQ:CORT) Reaches New 12-Month High – What’s Next?

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $75.00 and last traded at $72.86, with a volume of 219338 shares changing hands. The stock had previously closed at $72.60.

Analyst Ratings Changes

Several research analysts have recently weighed in on CORT shares. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research note on Friday, February 7th. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $88.25.

Corcept Therapeutics Trading Up 2.1 %

The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 58.94 and a beta of 0.58. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $58.24 and its two-hundred day simple moving average is $49.72.

Insider Activity

In other news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the transaction, the insider now owns 8,494 shares in the company, valued at $481,779.68. This represents a 14.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,011 shares of company stock worth $1,479,608. 20.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Several large investors have recently modified their holdings of CORT. Norges Bank purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $42,055,000. Jacobs Levy Equity Management Inc. raised its stake in Corcept Therapeutics by 40.5% during the 3rd 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 last quarter. Braun Stacey Associates Inc. purchased a new stake in Corcept Therapeutics during the 4th quarter valued at approximately $14,935,000. FMR LLC grew its stake in shares of 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 purchasing an additional 269,074 shares during the last quarter. Finally, Synergy Asset Management LLC increased its holdings in shares of Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after purchasing an additional 262,503 shares during the period. 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.