Corcept Therapeutics (NASDAQ:CORT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a hold rating to a buy rating in a research report released on Tuesday morning.

A number of other analysts have also recently issued reports on the stock. Truist Financial increased their price objective 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. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. HC Wainwright decreased their price target on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Piper Sandler upped their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $138.25.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $71.39 on Tuesday. The stock’s fifty day moving average is $66.58 and its 200 day moving average is $60.64. Corcept Therapeutics has a one year low of $25.35 and a one year 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. The stock has a market cap of $7.57 billion, a P/E ratio of 56.66 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $157.21 million for the quarter, compared to analysts’ expectations of $177.93 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Sell-side analysts anticipate that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider William Guyer sold 7,060 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total value of $524,628.60. Following the transaction, the insider now directly owns 5,487 shares of the company’s stock, valued at approximately $407,738.97. The trade was a 56.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 236,738 shares of company stock worth $20,476,238. Insiders own 20.80% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several large investors have recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth $27,000. Canada Pension Plan Investment Board purchased a new position in Corcept Therapeutics in the fourth quarter worth about $40,000. National Bank of Canada FI purchased a new position in Corcept Therapeutics in the fourth quarter worth about $42,000. USA Financial Formulas bought a new stake in Corcept Therapeutics during the fourth quarter worth approximately $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $58,000. Institutional investors own 93.61% of the company’s stock.

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.