Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $143.25 Consensus Price Target from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received a consensus recommendation of “Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $143.25.

CORT has been the subject of a number of recent research reports. HC Wainwright boosted their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Piper Sandler upped their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Truist Financial raised their target price on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Finally, Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st.

Insider Buying and Selling at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 35,102 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $94.72, for a total value of $3,324,861.44. Following the sale, the chief executive officer now directly owns 2,982,335 shares in the company, valued at approximately $282,486,771.20. The trade was a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Maduck sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the transaction, the insider now owns 85,622 shares in the company, valued at approximately $8,608,435.88. This represents a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,924 shares of company stock worth $14,963,130. Insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Several institutional investors have recently added to or reduced their stakes in CORT. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $27,000. Canada Pension Plan Investment Board acquired a new position in Corcept Therapeutics in the 4th quarter valued at about $40,000. National Bank of Canada FI purchased a new stake in Corcept Therapeutics during the fourth quarter worth about $42,000. USA Financial Formulas acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $58,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

CORT opened at $68.62 on Friday. 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 business has a fifty day moving average of $65.72 and a 200 day moving average of $57.79. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $117.33. The stock has a market cap of $7.24 billion, a P/E ratio of 54.46 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. As a group, sell-side analysts anticipate that Corcept Therapeutics will post 1.36 EPS for the current year.

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.