StockNews.com Downgrades Corcept Therapeutics (NASDAQ:CORT) to Buy

Corcept Therapeutics (NASDAQ:CORT) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Monday.

Several other equities analysts also recently issued reports on CORT. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Truist Financial raised their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, Piper Sandler raised their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $65.25.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $58.58 on Monday. 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 business’s fifty day moving average price is $48.82 and its two-hundred day moving average price is $38.29. The stock has a market cap of $6.14 billion, a PE ratio of 46.49 and a beta of 0.45. Corcept Therapeutics has a one year low of $20.84 and a one year high of $61.66.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same quarter last year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. On average, analysts forecast that Corcept Therapeutics will post 1.35 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 11,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the sale, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. The trade was a 32.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the transaction, the insider now owns 8,494 shares in the company, valued at $481,779.68. The trade was a 14.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,611 shares of company stock worth $1,563,548 in the last ninety days. Insiders own 20.50% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Park Place Capital Corp purchased a new position in shares of Corcept Therapeutics in the second quarter valued at $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics during the 2nd quarter valued at $35,000. Kathleen S. Wright Associates Inc. purchased a new stake in Corcept Therapeutics during the 3rd quarter worth $36,000. Finally, Blue Trust Inc. increased its stake in Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,962 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

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.