Corcept Therapeutics (NASDAQ:CORT) Given New $142.00 Price Target at Canaccord Genuity Group

Corcept Therapeutics (NASDAQ:CORT) had its price target increased by stock analysts at Canaccord Genuity Group from $130.00 to $142.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 35.05% from the stock’s current price.

Other analysts also recently issued research reports about the company. HC Wainwright increased their target price on Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler raised their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Truist Financial raised their price target on Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a report on Monday. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.00.

Corcept Therapeutics Stock Down 7.9 %

Corcept Therapeutics stock opened at $105.15 on Tuesday. The firm’s 50 day moving average price is $63.07 and its two-hundred day moving average price is $55.29. The firm has a market cap of $11.09 billion, a PE ratio of 84.23 and a beta of 0.61. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $117.33. 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 (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. On average, research analysts predict that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction dated Monday, March 24th. The stock was 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 owns 9,009 shares in the company, valued at approximately $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,022 shares of company stock valued at $2,703,257 in the last quarter. 20.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CORT. The Manufacturers Life Insurance Company increased its stake in Corcept Therapeutics by 4.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 50,996 shares of the biotechnology company’s stock worth $2,360,000 after acquiring an additional 2,216 shares during the period. FMR LLC lifted its stake in Corcept Therapeutics by 24.6% during the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after purchasing an additional 269,074 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after purchasing an additional 352,947 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Corcept Therapeutics by 30.0% during the 3rd quarter. Stifel Financial Corp now owns 88,967 shares of the biotechnology company’s stock worth $4,117,000 after buying an additional 20,546 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after buying an additional 19,893 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Company Profile

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.