Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $65.25 Average PT from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Get Free Report) have been given a consensus recommendation of "Buy" by the five brokerages that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $65.25.

A number of brokerages have recently issued reports on CORT. Piper Sandler raised their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. HC Wainwright increased their price target on shares of Corcept Therapeutics from $45.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday. Truist Financial lifted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Canaccord Genuity Group reiterated a "buy" rating and set a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, Sandler O'Neill reissued a "buy" rating on shares of Corcept Therapeutics in a report on Friday.

Insider Transactions at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 11,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total transaction of $509,080.00. Following the transaction, the insider now directly owns 22,772 shares in the company, valued at $1,053,888.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the sale, the insider now directly owns 22,772 shares in the company, valued at $1,053,888.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Guyer sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the transaction, the insider now owns 6,039 shares of the company's stock, valued at $233,528.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,251 shares of company stock worth $1,365,292. Company insiders own 20.50% of the company's stock.

Hedge Funds Weigh In On Corcept Therapeutics

A number of large investors have recently made changes to their positions in CORT. AA Financial Advisors LLC acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter worth approximately $231,000. Blue Trust Inc. boosted its position in Corcept Therapeutics by 230.6% during the third quarter. Blue Trust Inc. now owns 11,658 shares of the biotechnology company's stock worth $540,000 after purchasing an additional 8,132 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in Corcept Therapeutics by 2,269.6% in the third quarter. AlphaMark Advisors LLC now owns 9,739 shares of the biotechnology company's stock valued at $451,000 after purchasing an additional 9,328 shares during the last quarter. nVerses Capital LLC increased its position in shares of Corcept Therapeutics by 43.6% in the third quarter. nVerses Capital LLC now owns 5,600 shares of the biotechnology company's stock valued at $259,000 after buying an additional 1,700 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Corcept Therapeutics by 7.2% during the 3rd quarter. Creative Planning now owns 12,467 shares of the biotechnology company's stock worth $577,000 after buying an additional 841 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded up $2.58 during midday trading on Friday, hitting $49.75. 3,004,740 shares of the company's stock were exchanged, compared to its average volume of 1,187,827. The firm's fifty day simple moving average is $39.34 and its 200-day simple moving average is $32.76. The company has a market cap of $5.18 billion, a PE ratio of 46.93 and a beta of 0.46. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $50.07.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The company had revenue of $163.80 million for the quarter, compared to analysts' expectations of $155.14 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm's revenue for the quarter was up 39.1% on a year-over-year basis. Equities analysts anticipate that Corcept Therapeutics will post 1.12 EPS 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.