Corcept Therapeutics (NASDAQ:CORT) Given New $100.00 Price Target at Canaccord Genuity Group

Corcept Therapeutics (NASDAQ:CORT) had its price target upped by equities researchers at Canaccord Genuity Group from $99.00 to $100.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 142.13% from the stock’s previous close.

Several other research analysts also recently commented on CORT. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a report on Wednesday, December 31st. Truist Financial set a $50.00 target price on shares of Corcept Therapeutics in a report on Wednesday, December 31st. UBS Group started coverage on Corcept Therapeutics in a research report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. Finally, HC Wainwright lifted their price target on shares of Corcept Therapeutics from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.50.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $41.30 on Friday. The company has a fifty day moving average of $65.87 and a 200-day moving average of $71.26. Corcept Therapeutics has a 52-week low of $32.99 and a 52-week high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. The company has a market capitalization of $4.34 billion, a P/E ratio of 46.93 and a beta of 0.23.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $207.64 million for the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. As a group, equities research analysts predict that Corcept Therapeutics will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the transaction, the insider owned 7,904 shares in the company, valued at $628,526.08. The trade was a 71.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Guyer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $35.18, for a total transaction of $703,600.00. Following the transaction, the insider owned 1,235 shares in the company, valued at $43,447.30. The trade was a 94.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 194,500 shares of company stock valued at $14,186,410 over the last quarter. Company insiders own 20.80% of the company’s stock.

Institutional Trading of Corcept Therapeutics

A number of large investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in Corcept Therapeutics in the 3rd quarter worth about $25,000. Clearstead Advisors LLC grew its holdings in Corcept Therapeutics by 163.6% during the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Corcept Therapeutics during the second quarter worth $28,000. Huntington National Bank raised its position in shares of Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 168 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Corcept Therapeutics by 598.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 395 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 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.