Brokerages Set Corcept Therapeutics Incorporated (NASDAQ:CORT) Target Price at $65.25

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given a consensus rating of “Buy” by the five research firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $65.25.

A number of equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Truist Financial increased their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Piper Sandler raised their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Guyer sold 6,606 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the sale, the insider now directly owns 5,796 shares in the company, valued at $283,830.12. This represents a 53.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,811 shares of company stock worth $832,280 over the last 90 days. 20.50% of the stock is currently owned by insiders.

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently modified their holdings of CORT. Hancock Whitney Corp lifted its holdings in Corcept Therapeutics by 1.2% in the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after acquiring an additional 270 shares during the period. KBC Group NV lifted its stake in shares of Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 496 shares during the period. GAMMA Investing LLC boosted its holdings in Corcept Therapeutics by 20.3% during the fourth quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock worth $151,000 after buying an additional 506 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the third quarter worth about $25,000. Finally, Bank of Montreal Can increased its holdings in Corcept Therapeutics by 5.0% in the second quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company’s stock valued at $395,000 after buying an additional 580 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Up 1.8 %

Shares of NASDAQ CORT opened at $50.85 on Wednesday. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $62.22. The business’s 50 day moving average is $54.57 and its two-hundred day moving average is $43.36. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 40.36 and a beta of 0.56. 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 announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Corcept Therapeutics’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. Research analysts predict that Corcept Therapeutics will post 1.35 EPS 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.