Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $88.25 Average PT from Brokerages

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been given an average rating of “Buy” by the five analysts that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $88.25.

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Friday, February 7th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th.

Insider Activity

In related news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The disclosure for this sale can be found here. Insiders sold a total of 26,600 shares of company stock valued at $1,399,576 over the last 90 days. Insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in Corcept Therapeutics during the 4th quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. Canada Pension Plan Investment Board bought a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $40,000. National Bank of Canada FI bought a new stake in Corcept Therapeutics during the fourth quarter valued at $42,000. Finally, USA Financial Formulas bought a new stake in Corcept Therapeutics during the fourth quarter valued at $54,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Down 2.4 %

CORT opened at $63.54 on Thursday. 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 50-day simple moving average is $59.13 and its 200-day simple moving average is $50.57. The company has a market cap of $6.66 billion, a P/E ratio of 50.43 and a beta of 0.58. Corcept Therapeutics has a one year low of $20.84 and a one year high of $75.00.

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.