Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $94.67 Consensus PT from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $119.1667.

Several equities analysts have recently issued reports on CORT shares. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research note on Monday, July 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. Piper Sandler reiterated an “overweight” rating and set a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Finally, UBS Group set a $135.00 price objective on Corcept Therapeutics in a report on Thursday, May 28th.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $112.80 on Thursday. The stock has a market capitalization of $12.19 billion, a PE ratio of 268.58 and a beta of 0.45. Corcept Therapeutics has a 52 week low of $28.66 and a 52 week high of $122.21. The stock’s fifty day moving average is $85.82 and its 200-day moving average is $57.45.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business had revenue of $256.15 million for the quarter, compared to analysts’ expectations of $221.15 million. During the same period in the prior year, the firm earned $0.29 earnings per share. Corcept Therapeutics’s revenue was up 31.7% compared to the same quarter last year. As a group, analysts forecast that Corcept Therapeutics will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 75,000 shares of Corcept Therapeutics stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $65.59, for a total transaction of $4,919,250.00. Following the completion of the transaction, the insider directly owned 8,977 shares of the company’s stock, valued at $588,801.43. The trade was a 89.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David L. Mahoney sold 20,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $84.53, for a total transaction of $1,690,600.00. Following the completion of the transaction, the director directly owned 26,147 shares in the company, valued at approximately $2,210,205.91. This represents a 43.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 360,000 shares of company stock worth $30,228,250 in the last three months. 20.70% of the stock is owned by insiders.

Institutional Trading of Corcept Therapeutics

Several hedge funds have recently added to or reduced their stakes in CORT. Royal Bank of Canada increased its position in Corcept Therapeutics by 18.9% during the 1st quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock worth $1,757,000 after buying an additional 2,444 shares during the period. Amundi acquired a new position in shares of Corcept Therapeutics in the first quarter valued at about $450,000. NewEdge Advisors LLC acquired a new position in shares of Corcept Therapeutics in the first quarter valued at about $518,000. EverSource Wealth Advisors LLC increased its position in Corcept Therapeutics by 273.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock worth $106,000 after acquiring an additional 1,055 shares during the period. Finally, Marshall Wace LLP increased its position in Corcept Therapeutics by 795.3% during the second quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock worth $3,391,000 after acquiring an additional 41,040 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

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.