Brokerages Set Corcept Therapeutics Incorporated (NASDAQ:CORT) Target Price at $65.25

Corcept Therapeutics Incorporated (NASDAQ:CORT) has been given an average recommendation of “Buy” by the five research firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have covered the stock in the last year is $65.25.

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

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $59.26 on Friday. The firm has a market cap of $6.21 billion, a P/E ratio of 47.03 and a beta of 0.51. Corcept Therapeutics has a 52-week low of $20.84 and a 52-week high of $62.22. The business’s 50-day moving average price is $52.11 and its 200 day moving average price is $40.50. 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 earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s revenue was up 47.7% compared to the same quarter last year. On average, equities research analysts expect that Corcept Therapeutics will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the sale, the insider now owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. This represents a 32.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,611 shares of company stock worth $1,210,548. 20.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corcept Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hancock Whitney Corp lifted its stake in shares of Corcept Therapeutics by 1.2% in the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after purchasing an additional 270 shares during the period. KBC Group NV boosted its holdings in Corcept Therapeutics by 21.3% during the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after buying an additional 496 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Corcept Therapeutics by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company’s stock worth $174,000 after buying an additional 510 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at about $25,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Corcept Therapeutics by 0.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock valued at $4,138,000 after acquiring an additional 541 shares during the last quarter. 93.61% of the stock is owned by 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.