Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Average Rating of “Buy” by Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have received a consensus rating of “Buy” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $65.25.

Several research firms have weighed in on CORT. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, Truist Financial boosted their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th.

Corcept Therapeutics Trading Up 1.5 %

Corcept Therapeutics stock opened at $52.62 on Tuesday. 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 $5.51 billion, a price-to-earnings ratio of 41.76 and a beta of 0.45. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $61.66. The firm’s 50 day moving average price is $46.46 and its two-hundred day moving average price is $36.99.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the previous year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year. On average, research analysts predict that Corcept Therapeutics will post 1.31 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the sale, the insider now owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. The trade was a 32.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,301 shares of company stock valued at $1,594,253. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after acquiring an additional 99,470 shares during the last quarter. Executive Wealth Management LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth $2,804,000. Tanaka Capital Management Inc. lifted its position in Corcept Therapeutics by 11.8% during the 3rd quarter. Tanaka Capital Management Inc. now owns 112,136 shares of the biotechnology company’s stock worth $5,190,000 after acquiring an additional 11,860 shares during the last quarter. MML Investors Services LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth $317,000. Finally, EP Wealth Advisors LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth $302,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.