Piper Sandler Issues Positive Forecast for Corcept Therapeutics (NASDAQ:CORT) Stock Price

Corcept Therapeutics (NASDAQ:CORT - Free Report) had its target price increased by Piper Sandler from $128.00 to $131.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company's stock.

Several other brokerages have also commented on CORT. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright raised their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Truist Financial upped their price target on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Finally, StockNews.com lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. 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, the company currently has an average rating of "Moderate Buy" and an average target price of $143.25.

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Corcept Therapeutics Trading Down 4.9 %

Corcept Therapeutics stock traded down $3.66 during trading hours on Thursday, hitting $70.99. The company had a trading volume of 613,199 shares, compared to its average volume of 1,103,395. 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 firm has a market cap of $7.49 billion, a P/E ratio of 55.96 and a beta of 0.15. The company has a 50-day moving average price of $65.10 and a two-hundred day moving average price of $56.73. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). The firm had revenue of $181.89 million during the quarter, compared to analysts' expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, sell-side analysts anticipate that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Activity

In related news, insider Sean Maduck sold 18,303 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,110,809.07. Following the completion of the sale, the insider now owns 85,622 shares of the company's stock, valued at $5,196,399.18. This represents a 17.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph K. Belanoff sold 35,102 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $94.72, for a total transaction of $3,324,861.44. Following the completion of the sale, the chief executive officer now owns 2,982,335 shares of the company's stock, valued at approximately $282,486,771.20. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,124 shares of company stock worth $15,074,318. Corporate insiders own 20.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new position in shares of Corcept Therapeutics during the fourth quarter valued at about $27,000. Canada Pension Plan Investment Board acquired a new stake in Corcept Therapeutics in the 4th quarter worth approximately $40,000. National Bank of Canada FI purchased a new stake in Corcept Therapeutics during the 4th quarter worth approximately $42,000. USA Financial Formulas acquired a new position in Corcept Therapeutics during the 4th quarter valued at approximately $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Corcept Therapeutics in the fourth quarter worth $58,000. 93.61% of the stock is 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.