Corcept Therapeutics (NASDAQ:CORT) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Corcept Therapeutics (NASDAQ:CORT) in a report issued on Friday,Benzinga reports. The firm currently has a $80.00 price target on the biotechnology company’s stock.

Several other analysts have also issued reports on the stock. Canaccord Genuity Group lifted their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $88.25.

Corcept Therapeutics Trading Down 0.0 %

Shares of CORT stock opened at $68.01 on Friday. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $71.29. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 53.98 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock has a 50 day simple moving average of $56.72 and a 200-day simple moving average of $47.85.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the completion of the sale, the insider now directly owns 8,494 shares of the company’s stock, valued at $481,779.68. This trade represents a 14.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated 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 quarter, insiders sold 28,011 shares of company stock valued at $1,461,568. Corporate insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Black Diamond Financial LLC lifted its holdings in Corcept Therapeutics by 4.0% in the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 200 shares during the last quarter. Hancock Whitney Corp lifted its stake in shares of Corcept Therapeutics by 1.2% in the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after purchasing an additional 270 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Corcept Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock worth $1,374,000 after purchasing an additional 289 shares during the period. Illinois Municipal Retirement Fund grew its holdings in shares of Corcept Therapeutics by 0.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company’s stock worth $2,395,000 after purchasing an additional 368 shares during the period. Finally, Westover Capital Advisors LLC raised its holdings in Corcept Therapeutics by 3.0% in the 4th quarter. Westover Capital Advisors LLC now owns 15,587 shares of the biotechnology company’s stock valued at $785,000 after buying an additional 456 shares during the period. Institutional investors and hedge funds 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.