Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Average Rating of “Buy” from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have earned an average recommendation of “Buy” from the five research firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $99.75.

Several equities research analysts recently weighed in on CORT shares. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Piper Sandler lifted their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th.

Insider Activity at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 20,000 shares of the firm’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 sale, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,627 shares of company stock valued at $2,557,674 over the last quarter. 20.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

Corcept Therapeutics Trading Up 1.9 %

Shares of NASDAQ CORT opened at $58.66 on Monday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $6.19 billion, a PE ratio of 46.56 and a beta of 0.61. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $75.00. The stock has a fifty day simple moving average of $61.49 and a 200-day simple moving average of $53.95.

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

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.