Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $99.75 Average Price Target from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given a consensus rating of “Buy” by the five research firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $99.75.

A number of equities research analysts have recently issued reports on CORT shares. StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 owns 85,318 shares in the company, valued at $4,299,174.02. The trade was a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph K. Belanoff sold 2,924 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the transaction, the chief executive officer now owns 3,019,411 shares of the company’s stock, valued at $183,912,324.01. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,627 shares of company stock valued at $2,557,674 in the last ninety days. Company insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Black Diamond Financial LLC grew its holdings in Corcept Therapeutics by 4.0% during the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock worth $262,000 after acquiring an additional 200 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Corcept Therapeutics by 9.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 257 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Corcept Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock valued at $426,000 after buying an additional 268 shares in the last quarter. Hancock Whitney Corp boosted its holdings in shares of Corcept Therapeutics by 1.2% in the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 270 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Corcept Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock valued at $1,374,000 after buying an additional 289 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $58.66 on Monday. 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’s 50-day moving average is $61.49 and its two-hundred day moving average is $53.68. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $75.00. The company has a market capitalization of $6.19 billion, a PE ratio of 46.56 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Analysts predict that Corcept Therapeutics will post 1.36 earnings per share 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.