StockNews.com Downgrades Corcept Therapeutics (NASDAQ:CORT) to Hold

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Friday.

Several other research analysts have also weighed in on the stock. HC Wainwright reissued a "buy" rating and set a $115.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Canaccord Genuity Group lifted 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, Piper Sandler boosted their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Corcept Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $99.75.

Corcept Therapeutics Trading Down 5.2 %

Shares of Corcept Therapeutics stock traded down $3.08 on Friday, hitting $55.99. 1,886,450 shares of the company's stock traded hands, compared to its average volume of 1,005,099. The firm's 50-day moving average price is $60.12 and its two-hundred day moving average price is $51.82. 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 stock has a market capitalization of $5.91 billion, a PE ratio of 44.44 and a beta of 0.58. Corcept Therapeutics has a one year low of $20.84 and a one year high of $75.00.

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Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released 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 net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. On average, research analysts expect that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.54, for a total transaction of $111,188.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the business's stock in a transaction that occurred on 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 transaction, 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 26,600 shares of company stock worth $1,399,576 over the last ninety days. Insiders own 20.50% of the company's stock.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Corcept Therapeutics by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock valued at $509,726,000 after acquiring an additional 109,294 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Corcept Therapeutics by 0.4% in the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock valued at $192,975,000 after purchasing an additional 15,908 shares during the period. State Street Corp lifted its stake in Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock valued at $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Geode Capital Management LLC grew its holdings in Corcept Therapeutics by 4.4% during 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 during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Corcept Therapeutics by 4.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after buying an additional 64,321 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

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.