Brokerages Set Corcept Therapeutics Incorporated (NASDAQ:CORT) Target Price at $143.25

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received a consensus rating of “Buy” from the five analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $143.25.

CORT has been the topic of several research analyst reports. Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. HC Wainwright lifted their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Truist Financial increased their price target on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Finally, StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $69.59 on Friday. 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 fifty-two week low of $20.84 and a fifty-two week high of $117.33. The business has a 50 day moving average price of $65.73 and a 200-day moving average price of $58.04. The firm has a market cap of $7.34 billion, a PE ratio of 55.23 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Equities research analysts predict that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Sean Maduck sold 100,000 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total value of $10,054,000.00. Following the transaction, the insider now owns 85,622 shares in the company, valued at $8,608,435.88. The trade was a 53.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Douglas Lyon sold 421 shares of the company’s 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 transaction, the insider now owns 9,009 shares in the company, valued at $545,765.22. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,124 shares of company stock valued at $15,117,614 over the last quarter. Corporate insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CORT. Synergy Asset Management LLC lifted its holdings in Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after purchasing an additional 262,503 shares in the last quarter. Van ECK Associates Corp bought a new position in Corcept Therapeutics during the fourth quarter valued at $4,483,000. State Street Corp grew its stake in shares of Corcept Therapeutics by 0.6% in 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 in the last quarter. Burney Co. increased its holdings in shares of Corcept Therapeutics by 9.1% in the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after buying an additional 39,657 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Corcept Therapeutics by 43.4% during the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after acquiring an additional 76,573 shares during the last quarter. 93.61% of the stock is currently 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.