Corcept Therapeutics (NASDAQ:CORT) Given New $100.00 Price Target at Canaccord Genuity Group

Corcept Therapeutics (NASDAQ:CORT) had its price target upped by stock analysts at Canaccord Genuity Group from $99.00 to $100.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 142.13% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Monday, December 29th. Zacks Research downgraded Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research report on Wednesday, December 31st. UBS Group initiated coverage on shares of Corcept Therapeutics in a research report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $83.50.

Corcept Therapeutics Stock Up 13.7%

NASDAQ:CORT opened at $41.30 on Friday. The company has a market cap of $4.34 billion, a PE ratio of 46.93 and a beta of 0.23. The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. Corcept Therapeutics has a twelve month low of $32.99 and a twelve month high of $117.33. The company’s 50 day moving average is $65.87 and its two-hundred day moving average is $71.26.

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

Insider Buying and Selling

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 2,701,370 shares of the company’s stock, valued at approximately $215,488,284.90. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Guyer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $35.18, for a total transaction of $703,600.00. Following the transaction, the insider owned 1,235 shares in the company, valued at $43,447.30. The trade was a 94.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 194,500 shares of company stock worth $14,186,410 over the last three months. 20.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Abacus FCF Advisors LLC acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter worth about $3,238,000. Pacer Advisors Inc. boosted its position in shares of Corcept Therapeutics by 6,796.7% during the third quarter. Pacer Advisors Inc. now owns 390,559 shares of the biotechnology company’s stock worth $32,459,000 after buying an additional 384,896 shares during the period. Cerity Partners LLC grew its holdings in Corcept Therapeutics by 21.4% in the 2nd quarter. Cerity Partners LLC now owns 746,593 shares of the biotechnology company’s stock worth $54,800,000 after buying an additional 131,799 shares in the last quarter. Synergy Asset Management LLC raised its stake in Corcept Therapeutics by 96.1% during the 3rd quarter. Synergy Asset Management LLC now owns 506,856 shares of the biotechnology company’s stock valued at $39,615,000 after acquiring an additional 248,362 shares in the last quarter. Finally, Ellsworth Advisors LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth $769,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.