Equities researchers at Stifel Nicolaus initiated coverage on shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in a report issued on Thursday. The firm set a “buy” rating and a $20.00 price target on the biotechnology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 28.70% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. TheStreet raised Corcept Therapeutics from a “c+” rating to a “b” rating in a report on Monday, May 22nd. Piper Jaffray Companies set a $18.00 target price on Corcept Therapeutics and gave the company a “buy” rating in a report on Thursday, August 24th. BidaskClub downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Ladenburg Thalmann Financial Services set a $20.00 target price on Corcept Therapeutics and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Zacks Investment Research downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $15.17.

Corcept Therapeutics (CORT) opened at 15.54 on Thursday. The company’s 50 day moving average is $13.37 and its 200-day moving average is $11.16. Corcept Therapeutics has a 12 month low of $5.24 and a 12 month high of $15.98. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 77.31 and a beta of 2.06.

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

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In other news, Director David L. Mahoney sold 23,006 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $12.50, for a total value of $287,575.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Mahoney sold 6,510 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $12.50, for a total value of $81,375.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,601 shares of company stock valued at $532,513. Company insiders own 19.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tanaka Capital Management Inc. boosted its position in shares of Corcept Therapeutics by 62.6% in the second quarter. Tanaka Capital Management Inc. now owns 139,397 shares of the biotechnology company’s stock worth $1,645,000 after buying an additional 53,692 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Corcept Therapeutics by 9.7% in the second quarter. California State Teachers Retirement System now owns 161,438 shares of the biotechnology company’s stock worth $1,905,000 after buying an additional 14,300 shares in the last quarter. 361 Capital LLC purchased a new position in shares of Corcept Therapeutics during the second quarter worth $428,000. The Manufacturers Life Insurance Company boosted its position in shares of Corcept Therapeutics by 201.7% in the second quarter. The Manufacturers Life Insurance Company now owns 181,414 shares of the biotechnology company’s stock worth $2,140,000 after buying an additional 121,292 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Corcept Therapeutics by 26.1% in the second quarter. State Street Corp now owns 2,028,013 shares of the biotechnology company’s stock worth $23,931,000 after buying an additional 420,139 shares in the last quarter. Institutional investors and hedge funds own 61.48% of the company’s stock.

Corcept Therapeutics Company Profile

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).

Analyst Recommendations for Corcept Therapeutics (NASDAQ:CORT)

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