Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Consensus Rating of "Buy" from Brokerages

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) has been given an average rating of "Buy" by the five analysts that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $143.25.

CORT has been the subject of a number of analyst reports. StockNews.com lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Piper Sandler raised their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. HC Wainwright boosted their price target on Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. Finally, Truist Financial upped their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 31st.

Remove Ads

Corcept Therapeutics Stock Down 3.5 %

NASDAQ:CORT traded down $2.42 during trading hours on Friday, reaching $67.18. The company had a trading volume of 93,836 shares, compared to its average volume of 1,396,396. 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 $65.73 and its two-hundred day simple moving average is $58.04. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 53.37 and a beta of 0.15. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) 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). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $181.89 million for the quarter, compared to analysts' expectations of $200.12 million. On average, equities analysts expect that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Joseph Douglas Lyon sold 421 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the transaction, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $70.22, for a total transaction of $154,484.00. The disclosure for this sale can be found here. Insiders have sold a total of 163,124 shares of company stock valued at $15,117,614 over the last quarter. Company insiders own 20.50% of the company's stock.

Hedge Funds Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CORT. Stifel Financial Corp increased its holdings in shares of Corcept Therapeutics by 30.0% during the third quarter. Stifel Financial Corp now owns 88,967 shares of the biotechnology company's stock valued at $4,117,000 after purchasing an additional 20,546 shares during the period. State Street Corp increased its position in shares of Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock worth $162,871,000 after acquiring an additional 19,893 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Corcept Therapeutics during the 3rd quarter valued at $302,000. MML Investors Services LLC purchased a new stake in Corcept Therapeutics in the 3rd quarter worth about $317,000. Finally, Geode Capital Management LLC lifted its position in shares of Corcept Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company's stock worth $110,108,000 after purchasing an additional 99,470 shares in the last quarter. 93.61% of the stock is currently 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.