Corcept Therapeutics (NASDAQ:CORT) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a buy rating to a hold rating in a research report report published on Friday.

Several other research firms also recently weighed in on CORT. Piper Sandler lifted their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $99.75.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $60.58 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a market cap of $6.35 billion, a P/E ratio of 48.08 and a beta of 0.58. The firm’s 50 day moving average price is $59.78 and its 200-day moving average price is $51.22. Corcept Therapeutics has a one year low of $20.84 and a one year high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. As a group, equities research analysts predict that Corcept Therapeutics will post 1.36 EPS for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares of the company’s stock, valued at $4,299,174.02. The trade was a 18.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,600 shares of company stock worth $1,399,576. Company insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter worth approximately $25,000. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics in the fourth quarter valued at $27,000. Canada Pension Plan Investment Board purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth about $40,000. National Bank of Canada FI acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $42,000. Finally, USA Financial Formulas acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $54,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

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.