Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Average Recommendation of “Buy” by Brokerages

Corcept Therapeutics Incorporated (NASDAQ:CORT) has been given an average rating of “Buy” by the five brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued a report on the stock in the last year is $65.25.

Several research analysts have commented on CORT shares. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Truist Financial increased their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Piper Sandler raised their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th.

Insider Activity

In other Corcept Therapeutics news, insider William Guyer sold 3,394 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $48.97, for a total transaction of $166,204.18. Following the sale, the insider now owns 5,796 shares in the company, valued at $283,830.12. This represents a 36.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. In the last three months, insiders sold 35,811 shares of company stock worth $1,840,080. 20.50% of the stock is currently owned by insiders.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at about $25,000. Kathleen S. Wright Associates Inc. acquired a new position in Corcept Therapeutics in the third quarter valued at approximately $36,000. GAMMA Investing LLC grew its holdings in shares of Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,147 shares during the last quarter. nVerses Capital LLC raised its position in shares of Corcept Therapeutics by 62.5% during the 2nd quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 1,500 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 496 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $51.25 on Wednesday. The business’s 50-day simple moving average is $54.69 and its 200-day simple moving average is $43.77. The firm has a market capitalization of $5.37 billion, a P/E ratio of 40.67 and a beta of 0.56. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $62.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same period in the previous year, the firm earned $0.28 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 47.7% on a year-over-year basis. Equities analysts predict that Corcept Therapeutics will post 1.35 EPS for the current year.

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.