Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Has Average Price Target of $139.50 According to Brokerages

Corcept Therapeutics Incorporated (NASDAQ:CORT) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $139.50.

Several research analysts recently issued reports on the stock. Zacks Research lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Piper Sandler reaffirmed an “overweight” rating and set a $173.00 target price (up from $165.00) on shares of Corcept Therapeutics in a research report on Wednesday, November 4th. Finally, Truist Financial started coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 target price for the company.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $74.53 on Friday. The firm’s fifty day moving average is $105.23 and its 200-day moving average is $76.16. The firm has a market cap of $8.16 billion, a PE ratio of 57.76 and a beta of 0.54. Corcept Therapeutics has a 52 week low of $28.66 and a 52 week high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.84 by $0.17. The business had revenue of $340.47 million for the quarter, compared to analysts’ expectations of $339.12 million. Corcept Therapeutics had a return on equity of 22.56% and a net margin of 16.53%. The firm’s revenue was up 64.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. Sell-side analysts forecast that Corcept Therapeutics will post 1.97 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Roberto Vieira sold 58,333 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $110.76, for a total value of $6,460,963.08. Following the transaction, the insider owned 4,242 shares in the company, valued at $469,843.92. This trade represents a 93.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kimberly Park sold 26,685 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $122.55, for a total value of $3,270,246.75. Following the transaction, the director directly owned 30,000 shares in the company, valued at approximately $3,676,500. The trade was a 47.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 365,205 shares of company stock worth $41,439,575. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corcept Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CORT. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Corcept Therapeutics during the second quarter valued at about $27,000. State of Wyoming increased its holdings in Corcept Therapeutics by 29.5% during the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after buying an additional 186 shares during the last quarter. Provenance Wealth Advisors LLC bought a new stake in Corcept Therapeutics in the third quarter worth about $38,000. Gould Capital LLC increased its position in Corcept Therapeutics by 66.7% in the first quarter. Gould Capital LLC now owns 1,000 shares of the biotechnology company’s stock worth $40,000 after buying an additional 400 shares during the last quarter. Finally, Fulcrum Asset Management LLP increased its position in Corcept Therapeutics by 520.7% in the third quarter. Fulcrum Asset Management LLP now owns 571 shares of the biotechnology company’s stock worth $66,000 after buying an additional 479 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a biopharmaceutical company focused on developing medicines that modulate the effects of cortisol, a hormone involved in the body’s response to stress and in several disease processes. Founded in 1998, the company conducts research and develops treatments for conditions in which cortisol may play a role. Its marketed product, Korlym (mifepristone), is approved in the United States to control high blood sugar in adults with endogenous Cushing’s syndrome who have type 2 diabetes or glucose intolerance and are not candidates for surgery or have not benefited from it.