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

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received an average recommendation of “Buy” from the five brokerages that are covering the company, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $65.25.

Several analysts have issued reports on CORT shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Piper Sandler upped their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. HC Wainwright raised their price target on Corcept Therapeutics from $45.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Truist Financial upped their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the stock in a transaction 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 transaction, the insider now owns 6,039 shares of the company’s stock, valued at $233,528.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at $233,528.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the transaction, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,251 shares of company stock worth $1,365,292. Insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently made changes to their positions in CORT. Vanguard Group Inc. raised its position in shares of Corcept Therapeutics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after buying an additional 28,250 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Corcept Therapeutics by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock worth $86,952,000 after purchasing an additional 108,658 shares during the period. Norden Group LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $50,081,000. Jupiter Asset Management Ltd. grew its holdings in shares of Corcept Therapeutics by 1,149.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock worth $18,753,000 after purchasing an additional 684,863 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Corcept Therapeutics during the 1st quarter worth approximately $18,426,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Performance

CORT opened at $48.92 on Friday. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 46.15 and a beta of 0.46. Corcept Therapeutics has a one year low of $20.84 and a one year high of $50.07. The business’s fifty day moving average is $40.25 and its two-hundred day moving average is $33.37.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.09. The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business’s revenue was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS. On average, analysts predict that Corcept Therapeutics will post 1.12 EPS for the current fiscal year.

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.