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

Corcept Therapeutics Incorporated (NASDAQ:CORT) has received a consensus rating of “Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $65.25.

Several research firms have recently issued reports on CORT. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $60.66 on Friday. 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 stock has a fifty day simple moving average of $55.45 and a two-hundred day simple moving average of $46.40. Corcept Therapeutics has a 1-year low of $20.84 and a 1-year high of $62.98. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 48.14 and a beta of 0.56.

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

Insider Buying and Selling

In other news, insider William Guyer sold 6,606 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the sale, the insider now directly owns 5,796 shares in the company, valued at approximately $283,830.12. The trade was a 53.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, November 11th. The shares were 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. Over the last ninety days, insiders sold 38,011 shares of company stock worth $1,951,268. Corporate insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics during the 3rd quarter valued at approximately $25,000. Kathleen S. Wright Associates Inc. bought a new position in Corcept Therapeutics in the third quarter worth approximately $36,000. USA Financial Formulas purchased a new position in Corcept Therapeutics during the fourth quarter valued at $54,000. Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at approximately $58,000. Finally, GAMMA Investing LLC increased its stake in shares of Corcept Therapeutics by 85.4% in the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,147 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

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.