Corcept Therapeutics (NASDAQ:CORT) Sets New 1-Year High at $43.81

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $43.81 and last traded at $43.42, with a volume of 209804 shares changing hands. The stock had previously closed at $42.95.

Analysts Set New Price Targets

Several research firms have recently commented on CORT. HC Wainwright raised their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Truist Financial reaffirmed a “buy” rating and set a $65.00 price objective on shares of Corcept Therapeutics in a research report on Monday, June 17th. Piper Sandler increased their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $53.75.

Corcept Therapeutics Stock Up 2.4 %

The company’s fifty day moving average price is $35.59 and its 200-day moving average price is $30.22. The stock has a market capitalization of $4.58 billion, a PE ratio of 40.52 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $155.14 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. Equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.1 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Joseph Douglas Lyon sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $32.49, for a total transaction of $162,450.00. Following the sale, the insider now owns 9,290 shares of the company’s stock, valued at approximately $301,832.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,451 shares of company stock valued at $1,090,844. 20.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently added to or reduced their stakes in CORT. Park Place Capital Corp bought a new position in Corcept Therapeutics in the second quarter worth approximately $32,000. Atwood & Palmer Inc. purchased a new position in Corcept Therapeutics during the second quarter valued at $35,000. GAMMA Investing LLC grew its holdings in Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 579 shares during the period. FinTrust Capital Advisors LLC increased its position in Corcept Therapeutics by 318.7% in the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,348 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Corcept Therapeutics by 125.4% in the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,962 shares during the period. 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.