Corcept Therapeutics Incorporated (NASDAQ:CORT) shares hit a new 52-week high on Friday after Piper Jaffray Companies raised their price target on the stock from $18.00 to $24.00. The company traded as high as $17.36 and last traded at $17.31, with a volume of 908,718 shares changing hands. The stock had previously closed at $16.99.

A number of other brokerages also recently weighed in on CORT. Ladenburg Thalmann Financial Services set a $20.00 price objective on shares of Corcept Therapeutics and gave the company a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Stifel Nicolaus initiated coverage on shares of Corcept Therapeutics in a research report on Thursday, August 31st. They issued a “buy” rating and a $20.00 price target on the stock. Finally, TheStreet upgraded shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a research report on Monday, May 22nd. 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. Corcept Therapeutics presently has a consensus rating of “Buy” and an average price target of $16.17.

In other Corcept Therapeutics news, Director David L. Mahoney sold 23,006 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $12.50, for a total value of $287,575.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David L. Mahoney sold 6,510 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $12.50, for a total transaction of $81,375.00. The disclosure for this sale can be found here. Insiders sold 42,601 shares of company stock worth $532,513 over the last quarter. Insiders own 19.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 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 acquiring an additional 9,388 shares during the period. 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 acquiring an additional 3,390 shares during the period. Sand Hill Global Advisors LLC bought a new position in Corcept Therapeutics in the second quarter worth approximately $118,000. Jasper Ridge Partners L.P. bought a new position in Corcept Therapeutics in the second quarter worth approximately $118,000. Finally, Virginia Retirement Systems ET AL bought a new position in Corcept Therapeutics in the second quarter worth approximately $127,000. Institutional investors and hedge funds own 61.48% of the company’s stock.

The firm has a 50-day moving average of $14.42 and a 200-day moving average of $11.68. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 85.87 and a beta of 2.07.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported $0.10 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 business had revenue of $35.56 million during the quarter, compared to analysts’ expectations of $31.37 million. During the same period in the previous year, the business posted $0.01 EPS. The business’s quarterly revenue was up 80.3% compared to the same quarter last year. Analysts predict that Corcept Therapeutics Incorporated will post $0.42 EPS for the current fiscal year.

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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).

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