Corcept Therapeutics (NASDAQ:CORT) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Corcept Therapeutics (NASDAQ:CORT) had its price objective lifted by stock analysts at Canaccord Genuity Group from $78.00 to $130.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 84.78% from the company’s previous close.

A number of other research analysts also recently commented on CORT. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $88.25.

Corcept Therapeutics Stock Up 14.3 %

Shares of NASDAQ CORT traded up $8.83 on Thursday, hitting $70.36. The company had a trading volume of 1,091,457 shares, compared to its average volume of 811,769. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $69.85. The business has a 50 day moving average of $55.55 and a two-hundred day moving average of $46.50. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $7.37 billion, a P/E ratio of 55.57 and a beta of 0.56.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly 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 firm had revenue of $182.55 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.28 earnings per share. As a group, equities research analysts forecast that Corcept Therapeutics will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the transaction, the insider now directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,011 shares of company stock worth $1,951,268. 20.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics during the 3rd quarter valued at $25,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Corcept Therapeutics during the 3rd quarter worth $36,000. USA Financial Formulas bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth $54,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth $58,000. Finally, GAMMA Investing LLC boosted its stake in shares of Corcept Therapeutics by 85.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,147 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

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.