Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $99.75 Consensus PT from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) has earned a consensus rating of "Buy" from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $99.75.

Several analysts have commented on the company. Piper Sandler raised their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. StockNews.com lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, HC Wainwright restated a "buy" rating and issued a $115.00 target price on shares of Corcept Therapeutics in a research report on Thursday, February 27th.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the transaction, the chief executive officer now owns 3,019,411 shares in the company, valued at $183,912,324.01. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Insiders sold a total of 45,627 shares of company stock valued at $2,557,674 in the last three months. 20.50% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Corcept Therapeutics by 50.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,724 shares of the biotechnology company's stock worth $389,000 after buying an additional 2,578 shares during the last quarter. Cache Advisors LLC purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at $378,000. Public Employees Retirement System of Ohio raised its stake in Corcept Therapeutics by 269.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company's stock worth $144,000 after acquiring an additional 2,086 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter worth $204,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Corcept Therapeutics by 11.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 224,713 shares of the biotechnology company's stock valued at $11,323,000 after acquiring an additional 22,361 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT traded down $0.41 during midday trading on Monday, hitting $57.59. The company's stock had a trading volume of 882,320 shares, compared to its average volume of 966,122. Corcept Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $75.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The firm has a market cap of $6.08 billion, a P/E ratio of 45.71 and a beta of 0.61. The firm's 50 day moving average is $61.20 and its 200-day moving average is $53.48.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Equities analysts anticipate that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal 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.