Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives $88.83 Consensus Price Target from Analysts

Corcept Therapeutics Incorporated (NASDAQ:CORT) has been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $88.8333.

CORT has been the topic of a number of analyst reports. Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. UBS Group set a $135.00 price objective on Corcept Therapeutics in a research report on Thursday, May 28th. HC Wainwright upped their target price on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. Finally, Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th.

Insider Buying and Selling

In other news, CFO Atabak Mokari sold 40,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.15, for a total value of $3,246,000.00. Following the sale, the chief financial officer directly owned 16,130 shares in the company, valued at approximately $1,308,949.50. This trade represents a 71.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $93.13, for a total transaction of $1,862,600.00. Following the sale, the insider directly owned 3,985 shares of the company’s stock, valued at approximately $371,123.05. This trade represents a 83.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 300,000 shares of company stock worth $22,088,050. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB increased its holdings in shares of Corcept Therapeutics by 28.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 36,881 shares of the biotechnology company’s stock valued at $3,207,000 after acquiring an additional 8,100 shares during the last quarter. Breakwater Capital Group acquired a new position in Corcept Therapeutics in the second quarter valued at approximately $246,000. Evanson Financial LLC acquired a new position in Corcept Therapeutics in the second quarter valued at approximately $1,085,000. GAMMA Investing LLC increased its stake in Corcept Therapeutics by 54.0% in the second quarter. GAMMA Investing LLC now owns 4,640 shares of the biotechnology company’s stock valued at $403,000 after purchasing an additional 1,627 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Corcept Therapeutics by 56.8% in the first quarter. Pacer Advisors Inc. now owns 3,184 shares of the biotechnology company’s stock valued at $128,000 after purchasing an additional 1,154 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded down $1.37 during mid-day trading on Friday, hitting $91.88. The company had a trading volume of 1,128,496 shares, compared to its average volume of 924,878. The company has a market capitalization of $9.86 billion, a PE ratio of 262.52 and a beta of 0.47. Corcept Therapeutics has a 1-year low of $28.66 and a 1-year high of $95.11. The business’s 50-day simple moving average is $72.62 and its 200 day simple moving average is $52.78.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The company had revenue of $164.90 million during the quarter, compared to analysts’ expectations of $185.83 million. During the same quarter last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts expect that Corcept Therapeutics will post 0.53 EPS for the current year.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.