Corcept Therapeutics (NASDAQ:CORT) Rating Lowered to Hold at StockNews.com

Corcept Therapeutics (NASDAQ:CORT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other research analysts have also issued reports on CORT. Canaccord Genuity Group raised their price objective 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 reiterated a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a report on Thursday. Finally, Piper Sandler raised their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $99.75.

Corcept Therapeutics Trading Up 1.2 %

CORT stock opened at $60.58 on Friday. The company has a market capitalization of $6.35 billion, a PE ratio of 48.08 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $75.00. The company’s 50-day simple moving average is $59.96 and its 200 day simple moving average is $51.40.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data 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 firm 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%. As a group, sell-side analysts anticipate that Corcept Therapeutics will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total value of $130,812.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,600 shares of company stock worth $1,399,576. 20.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Kestra Investment Management LLC purchased a new stake in Corcept Therapeutics during the fourth quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics during the third quarter valued at about $25,000. Canada Pension Plan Investment Board bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at about $40,000. National Bank of Canada FI bought a new position in Corcept Therapeutics during the fourth quarter valued at approximately $42,000. Finally, USA Financial Formulas bought a new position in Corcept Therapeutics during the fourth quarter valued at approximately $54,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

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.