Corcept Therapeutics Incorporated (NASDAQ:CORT) Given Consensus Recommendation of “Buy” by Brokerages

Corcept Therapeutics Incorporated (NASDAQ:CORT) has earned a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $65.25.

A number of brokerages recently issued reports on CORT. HC Wainwright raised their target price on Corcept Therapeutics from $45.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial lifted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Piper Sandler increased their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded up $2.58 on Friday, hitting $49.75. 3,004,428 shares of the company’s stock were exchanged, compared to its average volume of 1,187,826. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 46.93 and a beta of 0.46. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $50.07. The business’s 50 day simple moving average is $39.34 and its two-hundred day simple moving average is $32.76.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The company had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $155.14 million. During the same period in the prior year, the business earned $0.25 EPS. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. Equities analysts forecast that Corcept Therapeutics will post 1.12 EPS for the current fiscal year.

Insider Activity

In other news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at $233,528.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider William Guyer sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total value of $386,700.00. Following the transaction, the insider now owns 6,039 shares of the company’s stock, valued at $233,528.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the sale, the insider now directly owns 23,190 shares of the company’s stock, valued at $828,114.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,251 shares of company stock valued at $1,365,292. 20.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors have recently modified their holdings of CORT. GAMMA Investing LLC increased its stake in Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after buying an additional 579 shares during the period. Park Place Capital Corp acquired a new stake in shares of Corcept Therapeutics in the second quarter valued at $32,000. Atwood & Palmer Inc. purchased a new position in Corcept Therapeutics in the second quarter valued at $35,000. Kathleen S. Wright Associates Inc. acquired a new position in Corcept Therapeutics during the 3rd quarter worth $36,000. Finally, FinTrust Capital Advisors LLC increased its holdings in Corcept Therapeutics by 318.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,348 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

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.