Corcept Therapeutics Inc. (NASDAQ:CORT) dropped 2.7% during mid-day trading on Friday . The company traded as low as $5.78 and last traded at $5.80, with a volume of 245,541 shares changing hands. The stock had previously closed at $5.96.

Several research analysts have weighed in on CORT shares. Zacks Investment Research raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research note on Tuesday, July 12th. FBR & Co reaffirmed an “outperform” rating and set a $12.00 target price on shares of Corcept Therapeutics in a research note on Thursday, June 23rd.

The firm has a 50-day moving average of $5.62 and a 200 day moving average of $4.67. The company’s market capitalization is $629.13 million.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $16.10 million for the quarter, compared to analyst estimates of $16.32 million. On average, equities research analysts forecast that Corcept Therapeutics Inc. will post $0.04 EPS for the current year.

In other news, Director G Leonard Baker, Jr. purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was acquired at an average price of $4.88 per share, with a total value of $488,000.00. Following the purchase, the director now directly owns 721,038 shares of the company’s stock, valued at approximately $3,518,665.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

An institutional investor recently raised its position in Corcept Therapeutics stock. Thornburg Investment Management Inc. boosted its stake in Corcept Therapeutics Inc. (NASDAQ:CORT) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 399,778 shares of the company’s stock after buying an additional 65,600 shares during the period. Thornburg Investment Management Inc. owned about 0.37% of Corcept Therapeutics worth $1,991,000 at the end of the most recent quarter.

Corcept Therapeutics Inc is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.