Corcept Therapeutics (NASDAQ:CORT) Given New $150.00 Price Target at Truist Financial

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) had its price objective increased by Truist Financial from $76.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. Truist Financial's target price would indicate a potential upside of 101.48% from the company's previous close.

CORT has been the subject of several other research reports. HC Wainwright raised their price target on Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a report on Monday. Piper Sandler raised their target price on shares of 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 upped their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $143.25.

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Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded down $4.92 during mid-day trading on Monday, reaching $74.45. The company's stock had a trading volume of 2,539,857 shares, compared to its average volume of 1,096,542. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $117.33. The stock has a fifty day moving average of $64.52 and a two-hundred day moving average of $56.03. The firm has a market capitalization of $7.85 billion, a PE ratio of 59.09 and a beta of 0.14.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. As a group, sell-side analysts anticipate that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 100,000 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the transaction, the insider now owns 85,622 shares in the company, valued at $8,608,435.88. The trade was a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,124 shares of company stock worth $15,074,318 over the last three months. 20.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CORT. Vanguard Group Inc. grew 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 worth $509,726,000 after purchasing an additional 109,294 shares in the last quarter. Parallel Advisors LLC lifted 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 worth $192,975,000 after buying an additional 15,908 shares during the period. State Street Corp lifted its stake in 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 during the period. Geode Capital Management LLC raised its holdings in shares of Corcept Therapeutics by 4.4% in 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 purchasing an additional 99,470 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after purchasing an additional 64,321 shares during the period. Hedge funds and other institutional investors own 93.61% of the company's stock.

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.