Corcept Therapeutics (NASDAQ:CORT) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a buy rating to a strong-buy rating in a report published on Thursday morning.

Other analysts have also recently issued research reports about the stock. Truist Financial increased their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday. Piper Sandler lifted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $65.25.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $47.62 on Thursday. The company has a quick ratio of 5.48, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $42.40 and its two-hundred day moving average price is $34.64. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $50.07. The stock has a market capitalization of $4.99 billion, a P/E ratio of 37.79 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same period in the prior year, the business earned $0.28 EPS. The firm’s revenue was up 47.7% on a year-over-year basis. As a group, sell-side analysts forecast that Corcept Therapeutics will post 1.19 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the sale, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the transaction, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total value of $509,080.00. Following the sale, the insider now owns 22,772 shares of the company’s stock, valued at $1,053,888.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,101 shares of company stock valued at $972,817 over the last 90 days. 20.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Corcept Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CORT. Jacobs Levy Equity Management Inc. purchased a new position in shares of Corcept Therapeutics in the first quarter worth approximately $18,426,000. Jupiter Asset Management Ltd. raised its stake in Corcept Therapeutics by 1,149.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after purchasing an additional 684,863 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Corcept Therapeutics in the first quarter valued at $14,670,000. M&G PLC acquired a new stake in shares of Corcept Therapeutics in the third quarter worth $11,173,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Corcept Therapeutics by 482.6% during the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock valued at $6,677,000 after buying an additional 219,551 shares in the last quarter. Institutional investors and hedge funds 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.