Piper Jaffray Companies set a $18.00 target price on Corcept Therapeutics Incorporated (NASDAQ:CORT) in a research note issued to investors on Thursday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.

Several other analysts also recently issued reports on the stock. BidaskClub raised shares of Corcept Therapeutics from a buy rating to a strong-buy rating in a report on Friday, August 18th. Zacks Investment Research raised shares of Corcept Therapeutics from a hold rating to a strong-buy rating and set a $14.00 price target on the stock in a report on Wednesday, July 19th. Ladenburg Thalmann Financial Services set a $20.00 price target on shares of Corcept Therapeutics and gave the company a buy rating in a report on Tuesday, July 18th. Finally, TheStreet raised shares of Corcept Therapeutics from a c+ rating to a b rating in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the stock. Corcept Therapeutics currently has an average rating of Buy and an average target price of $14.20.

Shares of Corcept Therapeutics (NASDAQ CORT) opened at 14.03 on Thursday. The stock has a 50 day moving average price of $13.37 and a 200 day moving average price of $11.16. Corcept Therapeutics has a one year low of $5.24 and a one year high of $15.58. The company has a market capitalization of $1.59 billion, a PE ratio of 69.80 and a beta of 2.06.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. The company had revenue of $35.56 million for the quarter, compared to the consensus estimate of $31.37 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up 80.3% compared to the same quarter last year. On average, equities research analysts predict that Corcept Therapeutics will post $0.43 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Piper Jaffray Companies Analysts Give Corcept Therapeutics Incorporated (CORT) a $18.00 Price Target” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark law. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/28/piper-jaffray-companies-analysts-give-corcept-therapeutics-incorporated-cort-a-18-00-price-target.html.

In other news, Director David L. Mahoney sold 6,510 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $12.50, for a total value of $81,375.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Mahoney sold 23,006 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $12.50, for a total transaction of $287,575.00. The disclosure for this sale can be found here. Insiders sold 42,601 shares of company stock worth $532,513 in the last ninety days. Insiders own 19.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in Corcept Therapeutics by 2,942.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock worth $115,000 after buying an additional 9,388 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Corcept Therapeutics by 52.6% in the second quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock worth $116,000 after buying an additional 3,390 shares in the last quarter. Sand Hill Global Advisors LLC purchased a new position in Corcept Therapeutics during the second quarter worth $118,000. Jasper Ridge Partners L.P. purchased a new position in Corcept Therapeutics during the second quarter worth $118,000. Finally, Virginia Retirement Systems ET AL purchased a new position in Corcept Therapeutics during the second quarter worth $127,000. 61.48% of the stock is owned by institutional investors and hedge funds.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

Receive News & Stock Ratings for Corcept Therapeutics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics Incorporated and related stocks with our FREE daily email newsletter.