Corcept Therapeutics (NASDAQ:CORT) Sets New 1-Year High - What's Next?

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $50.49 and last traded at $49.80, with a volume of 249723 shares trading hands. The stock had previously closed at $47.62.

Analyst Ratings Changes

Several research analysts have recently weighed in on CORT shares. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Canaccord Genuity Group restated a "buy" rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday. Piper Sandler raised their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. Finally, StockNews.com raised shares of Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $65.25.

Corcept Therapeutics Stock Up 5.1 %

The company has a current ratio of 3.70, a quick ratio of 5.48 and a debt-to-equity ratio of 0.01. The stock has a market cap of $5.25 billion, a P/E ratio of 40.09 and a beta of 0.45. The firm has a 50-day simple moving average of $42.40 and a two-hundred day simple moving average of $34.73.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. The business had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm's quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 10,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the transaction, the insider now owns 6,039 shares of the company's stock, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the sale, the insider now owns 6,039 shares in the company, valued at $213,176.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Gary Charles Robb sold 3,101 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the transaction, the insider now owns 23,190 shares of the company's stock, valued at $828,114.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,101 shares of company stock worth $972,817 over the last three months. Corporate insiders own 20.50% of the company's stock.

Institutional Investors Weigh In On Corcept Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in shares of Corcept Therapeutics by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company's stock worth $174,000 after buying an additional 510 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at $25,000. Allspring Global Investments Holdings LLC boosted its stake in Corcept Therapeutics by 0.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company's stock worth $4,138,000 after acquiring an additional 541 shares in the last quarter. Bank of Montreal Can increased its stake in Corcept Therapeutics by 5.0% in the second quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company's stock valued at $395,000 after purchasing an additional 580 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Corcept Therapeutics during the 3rd quarter worth about $36,000. 93.61% of the stock is owned by institutional investors.

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.