Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $138.17.

A number of research analysts recently commented on the stock. Truist Financial assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price objective on the stock. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a research report on Monday, July 27th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a report on Thursday, May 28th. HC Wainwright reaffirmed a “buy” rating and issued a $165.00 price target on shares of Corcept Therapeutics in a research note on Friday, September 18th. Finally, Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th.

Insider Buying and Selling at Corcept Therapeutics

In other news, Director James N. Wilson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $110.69, for a total transaction of $1,106,900.00. Following the completion of the sale, the director owned 1,064,543 shares in the company, valued at approximately $117,834,264.67. This represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Park sold 26,685 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $122.55, for a total value of $3,270,246.75. Following the sale, the director directly owned 30,000 shares of the company’s stock, valued at $3,676,500. The trade was a 47.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 446,415 shares of company stock worth $50,674,595 over the last quarter. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Corcept Therapeutics during the 2nd quarter valued at $27,000. State of Wyoming grew its position in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Corcept Therapeutics by 113.7% during the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 524 shares during the period. Gould Capital LLC raised its position in shares of Corcept Therapeutics by 66.7% during the first quarter. Gould Capital LLC now owns 1,000 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 400 shares during the last quarter. Finally, SHP Wealth Management acquired a new position in shares of Corcept Therapeutics during the fourth quarter valued at about $72,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $118.51 on Friday. The company has a 50 day moving average price of $110.70 and a 200 day moving average price of $77.76. Corcept Therapeutics has a 52 week low of $28.66 and a 52 week high of $126.38. The firm has a market capitalization of $12.81 billion, a price-to-earnings ratio of 282.17 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.02 by $0.34. The business had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.Corcept Therapeutics’s revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. Equities analysts forecast that Corcept Therapeutics will post 1.86 earnings per share for the current fiscal year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering and developing medicines that modulate the effects of the stress hormone cortisol. The company’s research centers on the glucocorticoid receptor, which regulates cortisol activity and may play a role in metabolic, psychiatric, oncologic and other serious diseases.

Corcept’s commercial product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.