Corcept Therapeutics (NASDAQ:CORT) Stock Price Expected to Rise, Piper Sandler Analyst Says

Corcept Therapeutics (NASDAQ:CORT) had its price target boosted by stock analysts at Piper Sandler from $128.00 to $131.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target suggests a potential upside of 75.96% from the company’s current price.

A number of other research analysts also recently issued reports on CORT. StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. HC Wainwright increased their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Truist Financial increased their price target on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 31st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.25.

Corcept Therapeutics Trading Down 6.2 %

CORT opened at $74.45 on Thursday. Corcept Therapeutics has a twelve month low of $20.84 and a twelve month high of $117.33. The company has a fifty day moving average of $64.81 and a 200-day moving average of $56.28. The stock has a market cap of $7.85 billion, a PE ratio of 59.09 and a beta of 0.14. 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 posted its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. On average, sell-side analysts predict that Corcept Therapeutics will post 1.36 EPS for the current year.

Insiders Place Their Bets

In related news, insider Joseph Douglas Lyon sold 421 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the transaction, the insider now directly owns 9,009 shares of the company’s stock, valued at $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Maduck sold 100,000 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the sale, the insider now directly owns 85,622 shares of the company’s stock, valued at $8,608,435.88. The trade was a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,124 shares of company stock valued at $15,074,318. Corporate insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in Corcept Therapeutics by 102.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company’s stock worth $71,000 after buying an additional 313 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Corcept Therapeutics in the fourth quarter worth about $40,000. National Bank of Canada FI purchased a new position in Corcept Therapeutics in the fourth quarter valued at about $42,000. Finally, USA Financial Formulas bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at approximately $54,000. 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.