Corcept Therapeutics (NASDAQ:CORT) Rating Lowered to Hold at BidaskClub

Share on StockTwits

Corcept Therapeutics (NASDAQ:CORT) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday, BidAskClub reports.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright initiated coverage on shares of Corcept Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Corcept Therapeutics in a research report on Tuesday, September 24th. They set a “buy” rating and a $20.00 price target on the stock. ValuEngine cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet raised shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a research report on Friday, August 16th. Finally, Zacks Investment Research raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $15.00.

NASDAQ:CORT opened at $13.71 on Friday. The firm has a 50-day moving average of $13.65 and a two-hundred day moving average of $11.93. The stock has a market cap of $1.61 billion, a P/E ratio of 22.84 and a beta of 1.39. Corcept Therapeutics has a 1-year low of $9.14 and a 1-year high of $19.48.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $72.26 million during the quarter, compared to analysts’ expectations of $70.87 million. Corcept Therapeutics had a net margin of 29.16% and a return on equity of 27.97%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 earnings per share. On average, analysts predict that Corcept Therapeutics will post 0.74 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CORT. Parallel Advisors LLC acquired a new stake in Corcept Therapeutics during the second quarter worth about $29,000. Private Capital Group LLC acquired a new stake in Corcept Therapeutics during the second quarter worth about $42,000. Exane Derivatives acquired a new stake in Corcept Therapeutics during the second quarter worth about $55,000. Reilly Financial Advisors LLC acquired a new stake in Corcept Therapeutics during the second quarter worth about $112,000. Finally, Intellectus Partners LLC raised its stake in Corcept Therapeutics by 9.1% during the second quarter. Intellectus Partners LLC now owns 12,046 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

Recommended Story: What does a hold rating mean?

Receive News & Ratings for Corcept Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Mercadolibre  Upgraded at BidaskClub
Mercadolibre Upgraded at BidaskClub
RadNet  Downgraded by Zacks Investment Research
RadNet Downgraded by Zacks Investment Research
FunFair Achieves Market Cap of $23.81 Million
FunFair Achieves Market Cap of $23.81 Million
Galactrum  Price Tops $0.0082 on Exchanges
Galactrum Price Tops $0.0082 on Exchanges
Dent  Price Hits $0.0002
Dent Price Hits $0.0002
Zacks: Analysts Expect Advanced Micro Devices, Inc.  Will Announce Earnings of $0.29 Per Share
Zacks: Analysts Expect Advanced Micro Devices, Inc. Will Announce Earnings of $0.29 Per Share


 
© 2006-2019 Zolmax.