Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $65.25 Consensus PT from Analysts

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

A number of brokerages recently issued reports on CORT. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Truist Financial raised their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Piper Sandler upped their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th.

Corcept Therapeutics Stock Up 1.8 %

CORT stock opened at $50.85 on Wednesday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $54.57 and a two-hundred day moving average of $43.25. Corcept Therapeutics has a 12 month low of $20.84 and a 12 month high of $62.22. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 40.36 and a beta of 0.51.

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

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 3,394 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 5,796 shares in the company, valued at $283,830.12. The trade was a 36.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total value of $130,812.00. The disclosure for this sale can be found here. Insiders sold a total of 15,811 shares of company stock worth $832,280 over the last ninety days. Company insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Corcept Therapeutics

Large investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of Corcept Therapeutics during the third quarter worth $25,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Corcept Therapeutics during the third quarter worth about $36,000. GAMMA Investing LLC lifted its holdings in shares of Corcept Therapeutics by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,147 shares during the last quarter. KBC Group NV boosted its position in shares of Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 496 shares during the period. Finally, nVerses Capital LLC grew its stake in Corcept Therapeutics by 62.5% during the 2nd quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock worth $127,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

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.