Corcept Therapeutics (NASDAQ:CORT) Given New $150.00 Price Target at Truist Financial

Corcept Therapeutics (NASDAQ:CORT) had its price target increased by stock analysts at Truist Financial from $76.00 to $150.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s price objective points to a potential upside of 45.24% from the stock’s previous close.

CORT has been the subject of several other research reports. Piper Sandler boosted their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. HC Wainwright upped their price target on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Monday. Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.00.

Corcept Therapeutics Trading Up 89.1 %

CORT traded up $48.65 during trading on Monday, hitting $103.28. The company’s stock had a trading volume of 8,674,501 shares, compared to its average volume of 1,029,201. The firm has a market capitalization of $10.90 billion, a P/E ratio of 81.52 and a beta of 0.61. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $109.27. The stock’s fifty day moving average price is $61.89 and its 200-day moving average price is $54.74. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last released its 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 company had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Analysts anticipate that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 2,924 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the transaction, the chief executive officer now directly owns 3,019,411 shares of the company’s stock, valued at $183,912,324.01. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total transaction of $111,188.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,022 shares of company stock valued at $2,703,257. Company insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $27,000. Canada Pension Plan Investment Board purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth approximately $40,000. National Bank of Canada FI bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $42,000. USA Financial Formulas purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at $58,000. 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.