Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Has Consensus Price Target of $138.17

Corcept Therapeutics Incorporated (NASDAQ:CORT) has earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $138.17.

CORT has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. Truist Financial began coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price target on the stock. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director David L. Mahoney sold 103,606 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $118.25, for a total transaction of $12,251,409.50. Following the completion of the sale, the director directly owned 1,133,539 shares in the company, valued at $134,040,986.75. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly Park sold 26,685 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 30,000 shares in the company, valued at approximately $3,676,500. This represents a 47.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 454,748 shares of company stock worth $52,786,210. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Corcept Therapeutics

Large investors have recently made changes to their positions in the business. IFP Advisors Inc grew its position in Corcept Therapeutics by 48.0% during the third quarter. IFP Advisors Inc now owns 1,345 shares of the biotechnology company’s stock worth $155,000 after buying an additional 436 shares in the last quarter. Encompass More Asset Management bought a new position in Corcept Therapeutics during the third quarter valued at about $690,000. Krilogy Financial LLC raised its holdings in Corcept Therapeutics by 21.2% in the 3rd quarter. Krilogy Financial LLC now owns 7,404 shares of the biotechnology company’s stock valued at $897,000 after acquiring an additional 1,293 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in Corcept Therapeutics by 38.6% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 5,342 shares of the biotechnology company’s stock valued at $633,000 after acquiring an additional 1,487 shares in the last quarter. Finally, Perpetual Ltd acquired a new position in Corcept Therapeutics in the 3rd quarter valued at approximately $206,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $110.16 on Tuesday. Corcept Therapeutics has a fifty-two week low of $28.66 and a fifty-two week high of $126.38. The stock’s 50-day moving average is $115.66 and its two-hundred day moving average is $86.69. The firm has a market cap of $11.91 billion, a P/E ratio of 262.29 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.34. The company had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%. The firm’s revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. On average, equities analysts expect that Corcept Therapeutics will post 1.83 EPS for the current year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.