Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $65.25 Average Target Price from Analysts

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

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their target price 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 report on Friday, October 18th. Truist Financial lifted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Finally, StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 3,394 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the transaction, the insider now owns 5,796 shares of the company’s stock, valued at $283,830.12. The trade was a 36.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,301 shares of company stock valued at $1,594,253. Company insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new stake in Corcept Therapeutics during the 1st quarter worth approximately $18,426,000. Jupiter Asset Management Ltd. lifted its stake in Corcept Therapeutics by 1,149.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after acquiring an additional 684,863 shares during the period. Clearbridge Investments LLC acquired a new stake in Corcept Therapeutics during the 1st quarter valued at approximately $14,670,000. FMR LLC lifted its stake in shares of Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after purchasing an additional 269,074 shares during the period. Finally, M&G PLC acquired a new position in shares of Corcept Therapeutics in the 3rd quarter valued at $11,173,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $54.79 on Tuesday. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $61.66. The stock has a market capitalization of $5.74 billion, a P/E ratio of 43.48 and a beta of 0.45. The firm has a fifty day simple moving average of $46.11 and a two-hundred day simple moving average of $36.61. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business’s revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the business earned $0.28 EPS. On average, analysts expect that Corcept Therapeutics will post 1.31 earnings per share for the current fiscal year.

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.