Analysts Set Corcept Therapeutics Incorporated (NASDAQ:CORT) Target Price at $65.25

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) has been assigned a consensus recommendation of "Buy" from the five ratings firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $65.25.

A number of equities analysts recently issued reports on the stock. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Truist Financial raised their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Piper Sandler lifted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. StockNews.com downgraded 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 report on Friday, October 18th.

Insider Activity

In other news, insider William Guyer sold 6,606 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the transaction, the insider now owns 5,796 shares in the company, valued at $283,830.12. The trade was a 53.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total value of $80,031.92. Following the sale, the insider now directly owns 8,494 shares in the company, valued at $481,779.68. This trade represents a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,811 shares of company stock worth $832,280 over the last three months. 20.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in Corcept Therapeutics by 43.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company's stock worth $11,712,000 after purchasing an additional 76,573 shares during the period. Franklin Resources Inc. raised its stake in shares of Corcept Therapeutics by 1.0% in the third quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company's stock worth $10,998,000 after buying an additional 2,475 shares during the period. World Investment Advisors LLC purchased a new position in shares of Corcept Therapeutics during the 3rd quarter valued at about $503,000. Geode Capital Management LLC grew its stake in shares of 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 valued at $110,108,000 after acquiring an additional 99,470 shares during the period. Finally, Executive Wealth Management LLC purchased a new stake in Corcept Therapeutics in the 3rd quarter worth approximately $2,804,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Trading Down 0.9 %

Shares of NASDAQ CORT traded down $0.46 during trading hours on Wednesday, hitting $50.39. The company's stock had a trading volume of 765,582 shares, compared to its average volume of 1,143,159. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $62.22. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 39.99 and a beta of 0.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The business has a 50-day simple moving average of $54.44 and a 200-day simple moving average of $43.05.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for 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 was up 47.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. On average, analysts anticipate that Corcept Therapeutics will post 1.35 earnings per share 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.