Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $135.25 Average PT from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $135.25.

CORT has been the topic of a number of research reports. Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, November 19th. Piper Sandler dropped their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, August 1st. Wolfe Research assumed coverage on shares of Corcept Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $140.00 target price on shares of Corcept Therapeutics in a research report on Thursday, September 25th.

Insider Buying and Selling

In other news, insider William Guyer sold 4,500 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $80.90, for a total value of $364,050.00. Following the completion of the transaction, the insider directly owned 787 shares of the company’s stock, valued at approximately $63,668.30. This represents a 85.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $73.99, for a total value of $1,479,800.00. Following the transaction, the insider owned 7,904 shares of the company’s stock, valued at $584,816.96. This trade represents a 71.67% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 263,900 shares of company stock worth $20,373,338. Insiders own 20.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CORT. JPMorgan Chase & Co. grew its holdings in shares of Corcept Therapeutics by 223.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after purchasing an additional 587,053 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Corcept Therapeutics by 128.5% in the third quarter. CIBC Private Wealth Group LLC now owns 770 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 433 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Corcept Therapeutics during the third quarter worth about $242,000. Danske Bank A S acquired a new stake in shares of Corcept Therapeutics during the third quarter worth approximately $1,335,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Corcept Therapeutics during the third quarter worth approximately $25,000. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT traded up $0.22 on Friday, hitting $80.02. 201,501 shares of the company were exchanged, compared to its average volume of 1,166,108. The company’s 50 day moving average price is $78.25 and its two-hundred day moving average price is $74.12. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 70.81 and a beta of 0.43. Corcept Therapeutics has a one year low of $49.00 and a one year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $207.64 million for the quarter, compared to analyst estimates of $223.78 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. Research analysts predict that Corcept Therapeutics will post 1.36 earnings per share for the current year.

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.