Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Average Recommendation of “Hold” by Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been assigned an average rating of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $80.8333.

CORT has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 29th. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research report on Wednesday, December 31st. Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Canaccord Genuity Group dropped their price target on Corcept Therapeutics from $140.00 to $99.00 and set a “buy” rating on the stock in a research note on Friday, January 2nd. Finally, UBS Group started coverage on Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price target on the stock.

Corcept Therapeutics Trading Down 4.5%

NASDAQ CORT opened at $35.39 on Friday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 40.22 and a beta of 0.23. The business has a 50 day simple moving average of $69.87 and a 200 day simple moving average of $72.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07. Corcept Therapeutics has a one year low of $32.99 and a one year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results 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 business had revenue of $207.64 million for the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.Corcept Therapeutics’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. Research analysts expect that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Trending Headlines about Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Some outlets highlight Corcept’s growth profile and margin performance as reasons analysts previously viewed it as a promising growth stock. Is Corcept Therapeutics Incorporated (CORT) The Most Promising Growth Stock According to Analysts?
• Neutral Sentiment: Industry comparisons note Corcept’s high margins versus peers and recent profitability contrasts, which provides longer-term context but doesn’t offset near-term regulatory and litigation risk. One Rare Disease Biotech Posts 97% Margins but the Faster Growing Rival Just Turned Its First Profit
• Negative Sentiment: Multiple shareholder-rights firms and investor-alerts are probing Corcept following the Dec. 31 CRL for relacorilant—raising legal risk and potential costs for the company. INVESTOR ALERT: Investigation of Corcept Therapeutics Incorporated (CORT) by Holzer & Holzer, LLC
• Negative Sentiment: Several law firms (Pomerantz, Schall, DJS, Levi & Korsinsky, Hagens Berman and others) have opened investigations into whether the company properly disclosed relacorilant data and its commercial prospects. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Corcept Therapeutics Incorporated – CORT
• Negative Sentiment: An analyst downgrade to “strong sell” by Zacks signals worsening sell-side sentiment; that kind of downgrade can accelerate outflows and price pressure. Zacks.com
• Negative Sentiment: At least one reported price target has been cut sharply (reported ~28% reduction to $92.82), reflecting lowered analyst expectations after the CRL. Corcept Therapeutics (CORT) price target decreased by 28.45% to 92.82

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the transaction, the insider owned 7,904 shares in the company, valued at approximately $628,526.08. This represents a 71.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $79.77, for a total transaction of $3,190,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,701,370 shares in the company, valued at $215,488,284.90. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 194,500 shares of company stock valued at $14,186,410 in the last 90 days. 20.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Several large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in Corcept Therapeutics by 546.9% during the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares in the last quarter. Norges Bank bought a new stake in Corcept Therapeutics during the second quarter worth $72,048,000. TD Asset Management Inc purchased a new stake in Corcept Therapeutics in the 2nd quarter valued at $60,179,000. Epoch Investment Partners Inc. purchased a new stake in Corcept Therapeutics in the 2nd quarter valued at $56,181,000. Finally, JPMorgan Chase & Co. lifted its stake in Corcept Therapeutics by 223.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock valued at $70,632,000 after acquiring an additional 587,053 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.