Corcept Therapeutics (NASDAQ:CORT) Price Target Raised to $150.00 at Truist Financial

Corcept Therapeutics (NASDAQ:CORT) had its price target boosted by Truist Financial from $76.00 to $150.00 in a research report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the biotechnology company’s stock.

A number of other equities analysts have also recently weighed in on CORT. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Canaccord Genuity Group boosted their price target on 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 raised their price objective on Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. Finally, StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.00.

Corcept Therapeutics Price Performance

CORT stock opened at $114.22 on Monday. The stock has a 50-day simple moving average of $63.07 and a 200-day simple moving average of $55.29. The firm has a market cap of $12.05 billion, a P/E ratio of 90.65 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The firm had revenue of $181.89 million for the quarter, compared to analysts’ expectations 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 predict that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the completion of the transaction, the insider now directly owns 9,009 shares of the company’s stock, valued at $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,022 shares of company stock worth $2,703,257. Corporate insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CORT. Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $27,000. Canada Pension Plan Investment Board bought a new position in Corcept Therapeutics during the 4th quarter worth $40,000. National Bank of Canada FI acquired a new stake in Corcept Therapeutics in the fourth quarter worth $42,000. USA Financial Formulas bought a new stake in Corcept Therapeutics in the fourth quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics during the fourth quarter valued at $58,000. 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.