Truist Financial Issues Positive Forecast for Corcept Therapeutics (NASDAQ:CORT) Stock Price

Corcept Therapeutics (NASDAQ:CORT) had its price target boosted by Truist Financial from $76.00 to $150.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

CORT has been the subject of several other research reports. Piper Sandler raised their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. Finally, Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $127.00.

Corcept Therapeutics Trading Up 109.1 %

NASDAQ:CORT opened at $114.22 on Monday. The company has a market capitalization of $12.05 billion, a PE ratio of 90.65 and a beta of 0.61. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $117.33. The stock has a fifty day simple moving average of $63.07 and a 200-day simple moving average of $55.29. 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 announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. On average, equities research analysts expect that Corcept Therapeutics will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the transaction, the chief executive officer now owns 3,019,411 shares of the company’s stock, valued at $183,912,324.01. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction 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 Corcept Therapeutics stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,022 shares of company stock worth $2,703,257. 20.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Corcept Therapeutics by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock worth $47,506,000 after acquiring an additional 53,191 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Corcept Therapeutics by 4.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 50,996 shares of the biotechnology company’s stock worth $2,360,000 after purchasing an additional 2,216 shares during the period. FMR LLC increased its position in Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after purchasing an additional 269,074 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Corcept Therapeutics by 40.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after buying an additional 352,947 shares during the period. Finally, Stifel Financial Corp lifted its position in Corcept Therapeutics by 30.0% during the third quarter. Stifel Financial Corp now owns 88,967 shares of the biotechnology company’s stock valued at $4,117,000 after buying an additional 20,546 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

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.