Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $88.83 Consensus Target Price from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $88.8333.

A number of equities research analysts have commented on CORT shares. Wolfe Research upgraded Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Piper Sandler increased their target price on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, UBS Group set a $135.00 price objective on Corcept Therapeutics in a report on Thursday, May 28th.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. Following the sale, the insider owned 6,230 shares in the company, valued at $404,950. This trade represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $70.60, for a total value of $1,412,000.00. Following the sale, the insider owned 3,985 shares in the company, valued at $281,341. This trade represents a 83.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 242,965 shares of company stock valued at $14,802,964. 20.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds have recently made changes to their positions in CORT. First Trust Advisors LP boosted its holdings in shares of Corcept Therapeutics by 213.5% during the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after purchasing an additional 1,480,059 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Corcept Therapeutics by 546.9% during the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Corcept Therapeutics by 38.0% during the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock worth $92,892,000 after purchasing an additional 734,646 shares during the last quarter. Norges Bank acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $24,213,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Corcept Therapeutics by 223.4% during the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after purchasing an additional 587,053 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $82.91 on Wednesday. The business’s fifty day moving average price is $55.70 and its two-hundred day moving average price is $52.26. The stock has a market cap of $8.90 billion, a PE ratio of 236.89 and a beta of 0.50. Corcept Therapeutics has a one year low of $28.66 and a one year high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The company had revenue of $164.90 million for the quarter, compared to analyst estimates of $185.83 million. Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. Corcept Therapeutics’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. As a group, equities research analysts predict that Corcept Therapeutics will post 0.62 earnings per share for the current fiscal year.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.