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

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have earned an average rating of “Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $65.25.

CORT has been the topic of a number of analyst reports. Truist Financial boosted their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Piper Sandler boosted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

Corcept Therapeutics Stock Down 5.4 %

Shares of NASDAQ CORT opened at $51.83 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock has a market capitalization of $5.43 billion, a PE ratio of 41.14 and a beta of 0.45. Corcept Therapeutics has a one year low of $20.84 and a one year high of $61.66. The business’s fifty day moving average price is $46.46 and its 200-day moving average price is $36.90.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. The business had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company’s revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, equities research analysts anticipate that Corcept Therapeutics will post 1.31 EPS for the current year.

Insider Buying and Selling

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Guyer sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the transaction, the insider now owns 6,039 shares in the company, valued at $213,176.70. This trade represents a 62.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,301 shares of company stock worth $1,594,253. Insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Park Place Capital Corp purchased a new stake in Corcept Therapeutics during the second quarter valued at about $32,000. Atwood & Palmer Inc. purchased a new stake in Corcept Therapeutics during the second quarter valued at about $35,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Corcept Therapeutics during the third quarter valued at about $36,000. Finally, Blue Trust Inc. lifted its stake in shares of 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 acquiring an additional 1,962 shares during the last quarter. 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.