Corcept Therapeutics (NASDAQ:CORT) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the company. UBS Group assumed coverage on Corcept Therapeutics in a research note on Tuesday. They issued a “neutral” rating and a $95.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $145.00 price target on shares of Corcept Therapeutics in a report on Tuesday, November 25th. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Monday. Finally, Wolfe Research began coverage on shares of Corcept Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.20.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $81.12 on Monday. Corcept Therapeutics has a 52 week low of $49.00 and a 52 week high of $117.33. The company has a quick ratio of 3.07, a current ratio of 3.14 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $78.07 and a 200-day moving average price of $74.81. The company has a market cap of $8.53 billion, a PE ratio of 92.18 and a beta of 0.20.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data 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). The firm had revenue of $207.64 million for the quarter, compared to analysts’ expectations of $223.78 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.Corcept Therapeutics’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. Equities analysts anticipate that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $79.77, for a total value of $3,190,800.00. Following the sale, the chief executive officer directly owned 2,701,370 shares of the company’s stock, valued at $215,488,284.90. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the completion of the transaction, the insider directly owned 7,904 shares of the company’s stock, valued at approximately $628,526.08. This represents a 71.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 261,700 shares of company stock worth $21,002,348. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in shares of Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Clearstead Advisors LLC grew its holdings in shares of Corcept Therapeutics by 163.6% in the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Corcept Therapeutics during the second quarter valued at about $28,000. Huntington National Bank boosted its holdings in shares of Corcept Therapeutics by 54.0% during the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 168 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in Corcept Therapeutics by 598.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.