Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Has Average Price Target of $138.17

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $138.17.

A number of analysts have commented on CORT shares. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. Truist Financial started coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 price objective for the company. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. HC Wainwright reaffirmed a “buy” rating and issued a $165.00 target price on shares of Corcept Therapeutics in a report on Friday, September 18th. Finally, Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a report on Monday, July 27th.

Corcept Therapeutics Trading Down 2.5%

NASDAQ CORT opened at $113.37 on Tuesday. Corcept Therapeutics has a 12 month low of $28.66 and a 12 month high of $126.38. The stock has a 50 day moving average of $115.67 and a 200-day moving average of $86.52. The company has a market cap of $12.26 billion, a PE ratio of 276.74 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. The business had revenue of $256.15 million for the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. As a group, sell-side analysts predict that Corcept Therapeutics will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director David Mahoney sold 103,606 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $118.25, for a total transaction of $12,251,409.50. Following the transaction, the director owned 1,133,539 shares of the company’s stock, valued at $134,040,986.75. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Atabak Mokari sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $114.71, for a total value of $9,176,800.00. Following the transaction, the chief financial officer directly owned 16,130 shares in the company, valued at approximately $1,850,272.30. This trade represents a 83.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 444,748 shares of company stock valued at $51,638,110 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CORT. Krilogy Financial LLC lifted its holdings in Corcept Therapeutics by 21.2% during the 3rd quarter. Krilogy Financial LLC now owns 7,404 shares of the biotechnology company’s stock valued at $897,000 after purchasing an additional 1,293 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its position in Corcept Therapeutics by 38.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 5,342 shares of the biotechnology company’s stock worth $633,000 after purchasing an additional 1,487 shares during the period. Perpetual Ltd bought a new position in Corcept Therapeutics during the third quarter worth $206,000. Riversedge Advisors LLC acquired a new position in shares of Corcept Therapeutics in the third quarter valued at $254,000. Finally, Wedmont Private Capital increased its holdings in shares of Corcept Therapeutics by 6.1% in the third quarter. Wedmont Private Capital now owns 3,329 shares of the biotechnology company’s stock valued at $395,000 after purchasing an additional 190 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.