Corcept Therapeutics (NASDAQ:CORT) Price Target Raised to $131.00

Corcept Therapeutics (NASDAQ:CORT) had its price target increased by Piper Sandler from $128.00 to $131.00 in a report published on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the biotechnology company’s stock.

Other research analysts have also issued research reports about the stock. HC Wainwright raised their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Truist Financial lifted their price target on Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 31st. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $143.25.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $74.45 on Thursday. The business has a 50 day simple moving average of $64.81 and a 200 day simple moving average of $56.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 59.09 and a beta of 0.14. Corcept Therapeutics has a 12-month low of $20.84 and a 12-month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, equities research analysts anticipate that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Activity

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the sale, the insider now owns 9,009 shares in the company, valued at approximately $545,765.22. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph K. Belanoff sold 35,102 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $94.72, for a total transaction of $3,324,861.44. Following the completion of the transaction, the chief executive officer now owns 2,982,335 shares of the company’s stock, valued at approximately $282,486,771.20. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,124 shares of company stock worth $15,074,318. Insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Corcept Therapeutics by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock worth $509,726,000 after buying an additional 109,294 shares during the period. Parallel Advisors LLC lifted its stake in Corcept Therapeutics by 0.4% in the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company’s stock worth $192,975,000 after acquiring an additional 15,908 shares in the last quarter. State Street Corp boosted its position 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 acquiring an additional 19,893 shares during the period. Geode Capital Management LLC grew its stake in Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after acquiring an additional 99,470 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company’s stock valued at $82,889,000 after purchasing an additional 64,321 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

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.