Corcept Therapeutics (NASDAQ:CORT) Sets New 12-Month High – Still a Buy?

Corcept Therapeutics Incorporated (NASDAQ:CORT)’s stock price hit a new 52-week high on Thursday . The company traded as high as $71.88 and last traded at $71.92, with a volume of 150564 shares. The stock had previously closed at $70.15.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CORT. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Friday, February 7th. Finally, Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $88.25.

Corcept Therapeutics Stock Performance

The company has a market capitalization of $7.64 billion, a P/E ratio of 57.82 and a beta of 0.58. The firm has a 50 day moving average price of $57.45 and a two-hundred day moving average price of $48.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Insider Activity

In other news, insider Joseph Douglas Lyon sold 1,411 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the transaction, the insider now directly owns 8,494 shares of the company’s stock, valued at $481,779.68. The trade was a 14.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the transaction, the insider now directly owns 85,318 shares in the company, valued at $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. In the last ninety days, insiders have sold 28,011 shares of company stock worth $1,479,608. Company insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CORT. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the 3rd quarter worth $25,000. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics during the 4th quarter worth $27,000. National Bank of Canada FI acquired a new position in Corcept Therapeutics during the 4th quarter worth $42,000. USA Financial Formulas acquired a new position in Corcept Therapeutics during the 4th quarter worth $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics during the 4th quarter worth $58,000. 93.61% of the stock is owned by institutional investors and hedge funds.

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.