Corcept Therapeutics (NASDAQ:CORT) Stock Rating Upgraded by Zacks Research

Corcept Therapeutics (NASDAQ:CORT) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on CORT. UBS Group assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday. They issued a “neutral” rating and a $95.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday. Wolfe Research initiated coverage on Corcept Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. HC Wainwright reissued a “buy” rating and issued a $145.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, November 25th. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.20.

Corcept Therapeutics Stock Down 7.1%

Shares of Corcept Therapeutics stock opened at $81.12 on Monday. Corcept Therapeutics has a 1 year low of $49.00 and a 1 year high of $117.33. The company has a market cap of $8.53 billion, a P/E ratio of 92.18 and a beta of 0.20. The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $78.07 and a 200 day moving average price of $74.81.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $207.64 million during the quarter, compared to analyst estimates of $223.78 million. Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. Corcept Therapeutics’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, analysts expect that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $79.52, for a total value of $1,590,400.00. Following the sale, the insider directly owned 7,904 shares of the company’s stock, valued at approximately $628,526.08. This trade represents a 71.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $79.77, for a total value of $3,190,800.00. Following the transaction, the chief executive officer directly owned 2,701,370 shares of the company’s stock, valued at $215,488,284.90. This represents a 1.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 261,700 shares of company stock worth $21,002,348 over the last ninety days. Company insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CORT. Swiss Life Asset Management Ltd bought a new stake in shares of Corcept Therapeutics in the third quarter valued at approximately $376,000. JPMorgan Chase & Co. raised its stake in Corcept Therapeutics by 223.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock valued at $70,632,000 after purchasing an additional 587,053 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Corcept Therapeutics by 128.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 770 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 433 shares during the period. Coldstream Capital Management Inc. bought a new stake in Corcept Therapeutics in the 3rd quarter valued at $242,000. Finally, Danske Bank A S acquired a new stake in Corcept Therapeutics in the 3rd quarter worth $1,335,000. 93.61% of the stock is owned by institutional investors.

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.