Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $65.25 Consensus Target Price from Brokerages

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have earned a consensus rating of “Buy” from the five analysts that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $65.25.

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

Corcept Therapeutics Trading Up 1.8 %

Shares of Corcept Therapeutics stock opened at $50.85 on Wednesday. The company’s fifty day moving average is $54.57 and its two-hundred day moving average is $43.25. Corcept Therapeutics has a 1 year low of $20.84 and a 1 year high of $62.22. 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 company has a market capitalization of $5.33 billion, a P/E ratio of 40.36 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for 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%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. Analysts forecast that Corcept Therapeutics will post 1.35 earnings per share for the current year.

Insider Activity

In related news, insider William Guyer sold 6,606 shares of the stock in a transaction on Friday, November 1st. The stock was 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 approximately $283,830.12. This represents a 53.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Douglas Lyon sold 1,411 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the transaction, the insider now owns 8,494 shares in the company, valued at approximately $481,779.68. This represents a 14.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,811 shares of company stock valued at $832,280 in the last three months. Corporate insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several large investors have recently bought and sold shares of CORT. State Street Corp increased its holdings in Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Corcept Therapeutics by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock worth $86,952,000 after buying an additional 108,658 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Corcept Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after buying an additional 99,470 shares during the last quarter. FMR LLC raised its holdings in Corcept Therapeutics by 24.6% in the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after acquiring an additional 269,074 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after acquiring an additional 352,947 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

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.