Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Consensus Rating of “Buy” from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have earned an average recommendation of “Buy” from the five brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $99.75.

A number of analysts recently weighed in on CORT shares. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Finally, Piper Sandler increased their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th.

Corcept Therapeutics Trading Up 1.9 %

Shares of Corcept Therapeutics stock opened at $58.66 on Monday. The company has a fifty day simple moving average of $61.49 and a 200-day simple moving average of $53.68. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $75.00. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 46.56 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, equities analysts forecast that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 2,924 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the transaction, the chief executive officer now owns 3,019,411 shares of the company’s stock, valued at $183,912,324.01. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,627 shares of company stock worth $2,557,674. 20.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $27,000. Canada Pension Plan Investment Board acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $40,000. National Bank of Canada FI acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $42,000. USA Financial Formulas acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $58,000. Hedge funds and other 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.