Corcept Therapeutics (NASDAQ:CORT) Hits New 1-Year High at $45.26

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s share price hit a new 52-week high on Monday . The company traded as high as $45.26 and last traded at $45.24, with a volume of 44573 shares traded. The stock had previously closed at $43.93.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CORT shares. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. HC Wainwright upped their price target 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. 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. Finally, Truist Financial restated a “buy” rating and set a $65.00 price target on shares of Corcept Therapeutics in a research report on Monday, June 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.75.

Corcept Therapeutics Stock Performance

The company has a market cap of $4.74 billion, a PE ratio of 41.44 and a beta of 0.45. The firm’s 50 day moving average is $36.39 and its 200-day moving average is $30.77.

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 the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The company had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $155.14 million. During the same quarter in the prior year, the company earned $0.25 EPS. Corcept Therapeutics’s revenue was up 39.1% compared to the same quarter last year. On average, analysts predict that Corcept Therapeutics Incorporated will post 1.12 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the sale, the insider now owns 23,190 shares in the company, valued at approximately $828,114.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the sale, the insider now owns 23,190 shares in the company, valued at approximately $828,114.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the sale, the insider now owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,251 shares of company stock valued at $856,212. Corporate insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Park Place Capital Corp acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at approximately $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at approximately $35,000. GAMMA Investing LLC increased its holdings in Corcept Therapeutics by 90.6% in the 1st 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 last quarter. FinTrust Capital Advisors LLC increased its holdings in Corcept Therapeutics by 318.7% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,348 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Corcept Therapeutics by 125.4% in the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,962 shares during the last quarter. 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.