Corcept Therapeutics (NASDAQ:CORT) PT Raised to $80.00

Corcept Therapeutics (NASDAQ:CORT) had its price objective lifted by HC Wainwright from $45.00 to $80.00 in a research note issued on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 60.80% from the stock’s current price.

A number of other research firms have also commented on CORT. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Truist Financial increased their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Piper Sandler increased their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $49.75 on Friday. The stock has a market capitalization of $5.18 billion, a PE ratio of 46.93 and a beta of 0.46. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $50.07. The business has a 50-day moving average of $39.65 and a 200 day moving average of $32.98.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The business had revenue of $163.80 million during the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. Corcept Therapeutics’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS. Analysts anticipate that Corcept Therapeutics will post 1.12 EPS for the current year.

Insider Activity at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the transaction, the insider now owns 23,190 shares of the company’s stock, valued at $828,114.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the sale, the insider now directly owns 23,190 shares in the company, valued at approximately $828,114.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Guyer sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the sale, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,251 shares of company stock valued at $1,365,292 in the last 90 days. Corporate insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in Corcept Therapeutics by 199.0% during the 1st quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock valued at $5,330,000 after purchasing an additional 140,815 shares during the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Corcept Therapeutics in the 2nd quarter worth $984,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Corcept Therapeutics by 190.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock worth $1,684,000 after buying an additional 43,809 shares during the last quarter. US Bancorp DE boosted its stake in shares of Corcept Therapeutics by 6,252.3% in the 1st quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock worth $637,000 after buying an additional 24,884 shares during the last quarter. Finally, Milestone Asset Management LLC boosted its stake in shares of Corcept Therapeutics by 47.4% in the 2nd quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock worth $1,676,000 after buying an additional 16,593 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

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.