Corcept Therapeutics (NASDAQ:CORT) Hits New 12-Month High at $39.97

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) hit a new 52-week high on Tuesday . The stock traded as high as $39.97 and last traded at $39.89, with a volume of 53532 shares. The stock had previously closed at $38.47.

Analyst Ratings Changes

Several brokerages have commented on CORT. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Truist Financial reissued a “buy” rating and set a $65.00 price objective on shares of Corcept Therapeutics in a research note on Monday, June 17th. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, HC Wainwright lifted their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $46.50.

Corcept Therapeutics Trading Up 4.8 %

The firm has a 50 day simple moving average of $34.54 and a 200 day simple moving average of $29.59. The firm has a market capitalization of $4.20 billion, a PE ratio of 36.29 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.23 by $0.09. The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. Corcept Therapeutics’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Research analysts forecast that Corcept Therapeutics Incorporated will post 1.1 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, July 1st. The stock was sold at an average price of $32.81, for a total transaction of $72,182.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the transaction, the insider now owns 6,039 shares in the company, valued at approximately $233,528.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $32.81, for a total value of $72,182.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,451 shares of company stock worth $1,090,844 over the last quarter. Company insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Corcept Therapeutics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after buying an additional 28,250 shares during the last quarter. Parallel Advisors LLC raised its position in Corcept Therapeutics by 1.2% during the fourth quarter. Parallel Advisors LLC now owns 3,768,245 shares of the biotechnology company’s stock valued at $122,393,000 after purchasing an additional 44,762 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Corcept Therapeutics by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock valued at $86,952,000 after purchasing an additional 108,658 shares during the last quarter. Norden Group LLC purchased a new position in shares of Corcept Therapeutics in the 1st quarter worth approximately $50,081,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Corcept Therapeutics by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 900,444 shares of the biotechnology company’s stock valued at $29,246,000 after purchasing an additional 39,111 shares during the last quarter. 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.